Google allows me to back up unlimited "standard size" photos for free.
which reminds me, I have a large stash of photos to re-backup.
Seems like a ripe opportunity for a product - build your own Cloud on top of an OSX machine, leave it all at home and administer it - safely - from the beach while you're on vacation.
Inevitably, the cloud is going to be full of photos/videos nobody even remembers exist. It'll be cloud hoarding. It already is that with youtube allowing anyone to upload anything but I have to wonder if that's sustainable.
What you're proposing is the next step if cloud hoarding becomes a difficult enough problem - if not, it'll be like Windows being an unbelievable resource-hog but since users keep on buying faster and faster machines, nobody cares.
Except here, Apple and the other big companies are taking the hit, not the consumers, so it'll be interesting to see how it plays out.
That set me thinking if there's an asymptotic limit for that.
I suppose it would be for everyone in the planet to always be recording everything their eyes can see (and their ears can hear).
Greg Egan wrote at least one story about implanted devices for that, and there are calculations around for the data bandwidth.
If it gets to be too much, we'll quickly see 'pay to keep your videos afloat if they're not receiving over X number of views after X number of days' or something else to that effect.
The days of everything free are an early stage, short-lived move in order to gain massive market-share. Once near-monopoly position is established, it'll be time to monetize.
That's why the older generation shakes their head at walled gardens that gain massive momentum - they know what's most certainly going to come of it in due time.
Its a jarring experience really. you can look at 3 photos in a slide show, then in place of the 4th photo an ad. You can't even pay them to stop showing ads with your photos, as subscribing (which I did) only stops you from seeing the ads.
To keep everything backed up, I have a NAS in my basement that pulls a copy of my Flickr library on a routine basis.
Edit: Flickr Ad-Free is $49/year, but $24/year for grandfathered Flickr Pro subscribers. Sorry for the confusion.