Is privacy the only driver? I think convenience, speed, and cost are still big concerns, just like they were back in the day.
Network requests are always very slow when compared to processor speed. You can buy a device for 1/500 the cost of a server, put it in your closet, and it will be faster at almost every task than offloading to the "cloud".
I work tangential to the Telecom space, and all anyone cares about is the "edge" i.e. Consumer Premise Equipment and the like. With how cheap computer power is and how high network latency is, having centralized datacenters has become less and less desirable.
