sure i suppose "trusting cloud computing" in general is part of the fallout here -- if a label like "cloud computing" has to take part of the blame.
in this example here i think of the issue as more an issue with a specific company and would have to ask users affected by this data loss if they can trust with their data with that company again -- how companies keep user data safe, i dont think their customers care, they simply want to count on it always being there.
and with regard to any business using cloud computing, i'd say its really not a new problem to solve. with data, like with security, layers are very important and so is redundancy even when it comes to cloud computing.
if the data is important, and to most businesses it is /the/ most important thing. take care of it by planning for bad things to happen and having policies in place for architecting something new and auditing it once its up and running ... even if youre contracting it out.
so in the end i have lost any trust for "cloud computing" but its also not magic ... we still have to do our work ... even if the cloud makes growing our apps easier.