Here’s a different point to think about: is your use of Postgres resilient to network failures, communication errors or one-off issues? Sometimes you have to design for this at the application layer and assume things will go wrong some of the time...
As with anything, it could vary with your particular workload... but if I knew my very-stable-yet-cloud-hosted copy of Postgres wasn’t configured with high availability, well, you might have local performance and no update lag but you also have a lot of risk of downtime and data loss if it goes down or gets corrupted. The advantage to cloud storage is not having to read in as many WAL logs, and just reconnect the old disk before the instance went down, initialize as if PG had just crashed, and keep going... even regular disks have failures after all...