

If you do store your data, like me, in iCloud and Apple Photos then you should still take a backup.
The easiest way to do this to request a data export of all your Apple data. It’s then prepared into zip files you can download onto a local storage device.
I do it about once a year, which for me is a reasonable balance between risk and impact.
Here’s a guide: https://www.macrumors.com/how-to/get-a-copy-of-your-apple-account-data/

At least they don’t have a merger they’re trying to get through, also giving away tax payer dollars is much harder than a corpo just bending the knee.