If you're running a business and you have lawyers, then fair enough — just play the game. But for individuals, it seems crazy that so many of us accept this sort of thing. Good luck contesting the charge with your credit card company when you already agreed to a contract that said Google could bill you thousands of dollars and then you used thousands of dollars worth of their service.
Big cloud providers are not your friend. They do not care if they destroy the lives of you and your family, unless it's happening so often that it's making mainstream news.
My advice is to go and delete your cloud accounts, and only use services that offer hard spending caps, and ideally prepaid accounts.
Maybe this doesn't leave many options. Oh well. Maybe if you can't afford big lawyers then you also can't afford the risks of using big cloud.