I'm not a huge fan of cloud in general. Office 365 provides a lot of value for our organization. In addition to Office and Exchange we get a bunch of other things like Sharepoint, Forms, Flow, etc.

I had terrible problems with hosted Exchange from Intermedia. I've had pretty good luck with Exchange on Office 365.

Office 365 support is absolute garbage, they really want to punish you for contacting them, especially so if you've found a bug.