All of those things would also be needed by the cloud provider, too. Just because it's on-prem doesn't mean it doesn't need servers, power conditioning, physical security, etc. "Cloud" isn't magic fairies. It's just renting someone else's points of failure.
In addition, you're forgetting the thousands of points of failure between the building and the cloud provider. Everything from routers being DDOSed by script kiddies to ransomware gangs attacking infrastructure to Phil McCracken slicing a fiber line with his new post hole digger.
In addition, you're forgetting the thousands of points of failure between the building and the cloud provider. Everything from routers being DDOSed by script kiddies to ransomware gangs attacking infrastructure to Phil McCracken slicing a fiber line with his new post hole digger.