Regional storage is inappropriate for backup. On GCS, backup should be nearline or coldline, depending on how long you think it will be there.

Presumably you'd pay the $120 bandwidth fee seldom or never.

Ok, Google Storage Nearline is still $10 a month for 1 TB. That's $120 a year vs $59.99 a year for Amazon Drive not including Google bandwidth which could be significant.

I feel like the comment about bandwidth got ignored—you only pay for egress bandwidth, which basically means you only are paying high bandwidth fees if you lost all of your data and it's an emergency, at which point they seem pretty reasonable because you just lost your house in a fire or something like that. Uploading is free (well, you pay your ISP).

Most of the time, people only need to restore a few files from backup because they were accidentally deleted. The bandwidth costs for a few GB here and there are pretty cheap.