[marcamillion]

Because if you put it somewhere in your home, you are not diversifying the geographic risk.

There is a solid argument to be made with backing up your hard drive and shipping it across the country, or to another continent.

If you get hit by a earthquake or a hurricane, you can be sure you have at least 1 copy of your data safe. It's the same advantage to why you would want to do 'cloud backups'.

Except that this doesn't require huge broadband and tying up your connection for days/weeks.

Sneakernet is actually a pretty common technique used by large companies, but they use tapes instead of hard drives (although I am sure many now use hard drives).