Cloud horror

So, iCloud sounds cool and all, but how come no one talks about privacy? It was the one single thing that I was waiting to hear at WWDC but no word. It is clear that all the big boyz like Apple, Google, Amazon, etc. want to move us to the cloud, and tomorrow even start selling us machines without own storage capacity. All will be streamed and stored "somewhere else". Like if what's happening on facebook and elsewhere is not enough, we are now heading to a norm where we won't "own" our data. I'm not comfortable at all with this idea, and I fear that soon "switching off" the iCloud (or any cloud) won't be optional.