That means absolutely nothing. A server you run in the cloud is still your server, it's just a virtual machine or instance running on someone else's hardware. If anything this is slightly LESS secure, as now Google and its employees potentially have access in addition to your company.
I'm not saying that I don't trust your company in particular, just that having my password stored in a non-hashed form anywhere but on my own hardware is unacceptable.
calm the hell down dude. Stop being so freak about privacy. If you cared so much about it then just become that crazy dude that doesnt use smartphones, social networks, macOS, etc. Privacy is a myth, just by buying a macbook u r already giving information about yourself to Apple. Are you really that innocent to think Apple does not know anything about your e-mail, name, etc? Unless you live in the middle of a jungle, then you are never 100% secure.
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