Certainly a concern. So for Backblaze I use an email address on my own domain which is then forwarded (thanks to Cloudflare; previously Gandi) to another email service which is currently iCloud. I did this after hearing about horror stories of loosing email access with Google a few years ago as you mentioned. I’m running on the assumption that Backblaze, Cloudflare and Apple will not all try to screw me.
I’ll say for me the most important data is family photos which I’ve got them duplicated in Amazon Photos. B2 is the hedge against Amazon, and Amazon is the hedge against B2.
For other documents, I’m willing to trust b2 for now. They have not given me a reason not to trust them. One benefit of reading HN daily is I’d hope to see red flags posted on HN if b2 is having problems. Maybe I’ll consider having an alternative. I also don’t want my data floating across multiple vendors even if encrypted.