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The inherent danger of relying on a physical device being found intact if the aircraft is destroyed, would be eliminated. If the recorders are found intact, then they would serve as verification of the material in the cloud storage, but if not found, at least the info transmitted to the cloud would be readily available and completely intact.
The other thing that can be done is that cockpit camera data could also be transmitted and stored in the cloud, to assist investigators - obviously in the event of a crash, this would probably need to be destroyed after investigators had finished with it.
Just a thought...