Cloud mining is not profitable. If it seems like it is, the company will disappear with everybody's money after 6 months and there's nothing you can do. After all why would somebody go through all the work of setting up miners, a website, and company so they call sell you profit?
Miners don't cost 100-200k in USD. You can buy small ones for as low as $50. The large companies do have a benefit when buying millions though.
They will come with lot's of reasons cloud mining is needed. Fact is most miners now you plug in like a computer to network and set up information in it. It's not near as hard as they want you to think.
If you want to mine long term get a miner, if electricity is to high in your area look into hosting. Do ROI math. Electricity and space are two big things to consider when deciding hosted or running at home.