There is alot of content to be potentially loss that could be important through out someone's life that aren't financial.
As an example there are basically no hard copies of photos and videos now so a kid could potentially lose any memory of their child hood they didn't share on a social network or that their parents didn't document for them.
Facebook encouraged uploading of full albums when it was popular but all of current tools heavily encourage curation to project an image or that for fun images are ephemeral.
There are tools that help mitigate this like dropbox and iCloud, but as far as I know they only save images taken on the device and not images sent to you.
As an example there are basically no hard copies of photos and videos now so a kid could potentially lose any memory of their child hood they didn't share on a social network or that their parents didn't document for them.
Facebook encouraged uploading of full albums when it was popular but all of current tools heavily encourage curation to project an image or that for fun images are ephemeral.
There are tools that help mitigate this like dropbox and iCloud, but as far as I know they only save images taken on the device and not images sent to you.