That can be OK as long as it is not the same cloud provider.
I do think there is a lot to be said for backing up local data to the cloud, and cloud data to local storage.
Its a good start but still falls short of the 3-2-1 principle. You should have an additional backup that is air-gapped.
People are downvoting you but i regularly take backups of my google account data - emails and drive. Poop happens and better be ready for when it does.