Would you trust that man with your music files?
But there’s no reason why Steve shouldn’t look after your program files. Why bother keeping, say, MS Word on three different machines? Let Steve store the code in his cloud, updating it, keeping it virus free, giving you access to it when you need to write a letter.
But if he gets his hands on your music files, how soon before he allows some corporate suit from Sony access to them? Or access is driven by court order as music labels seek to enforce their interpretation of copyright law?
Better for music to stay on tens of millions of privately owned machines. It’s too important to be left to excitable Steve, his corporate friends and their $2,000 per hour lawyers.