I suppose if you want to tinker with the device remotely the cloud feature might be useful. However, I know I have personally never felt the need to tinker with a UPS. They are a set-it-and-forget-it appliance.
I just put a physical label on each one listing when the battery was last replaced, so I know when it is time to replace with a fresh one.
Edit: Nor do I trust them to keep up to date with security patches for an IoT UPS. Remember, the S in IoT stands for security. Don’t add any IoT devices to your network you don’t need to.