They all want your data on their servers Microsoft is not even the most egregious (that would be Google).
The notion of The Cloud is one of the most pernicious concepts to come along in a long time. The Cloud isnt a cloud ITS JUST A HARD DRIVE IN SOME OTHER GUYS DATACENTER. Theres no freakin magic about it. And you pay for the privilege of him looking at all your data, whether its direct fee or the fact that he sells your data for marketing intel.
The only major company Im aware of that truly protects their users data completely is Apple the company cannot decrypt it because the user is the only holder of the encrypt/decrypt keys. The downside is that the user is responsible for not losing/forgetting those keys, but thats still a better deal than letting the company have the ability to decrypt your data.
This is crypto 101, dayglo. If you manage your own keys, this isn't a problem, regardless of whose cloud you use.
Invest in a YubiKey, encrypt ALL of your disks (BitLocker works just fine), and it doesn't matter if your data is on your computer, a local NAS, on a floppy disk in a drawer, or on a DVD in a safe, if you own the key, they can't see your data. Period.