Ahh, makes more sense.
Still, being SaaS means they can play the same ball-trap capitalism games that Atlassian are currently if they choose. I think that backup/restore functionality will be crucial to keeping them honest.
It'll need to support pushing back-ups to some place off-site that *you* control, and in a format you can parse and convert with reasonable fidelity to something else if needed. Otherwise it'll be like The Who… "meet the new boss, just like the old boss!"