I think cloud mining isn't that profitable compared to the real mining unless you'll go invest on ponzi cloud mining as they give better returns than legit ones.
Thus cloud mining isn't good at all as most of them nowadays were ponziyou can't compare "real mining " with "cloudmining"
it's diffirent way, cloudmining 99% scam and use ponzi scheme
Yeah, cloudmining is just a waste of time, you are very rich and if you hold millions of bitcoins and if you want to loose your bitcoins then go for cloudmining as it a ponzi scheme, rather it is better to go for gambling atleast if you loose you are the only person responsible for that, it is better to blame ourselves rather then getting cheated.