That is basically the horror scenario of backup'ing, since you don't usually protect against that kind of failure: the probability of it happening just seems too low. It's similar to having a limit to your attack model when securing your data/accounts/... against attacks: you can try to protect against a governmentally funded cyber attack on you personally, but you probably won't succeed and it's very surely not worth the trouble if you're not a very influential or otherwise important person.

In this case, the usual retort would of course be "why didn't you have a backup in 'the cloud'?" I have for part of my stuff, but not for all. I feel you.