The key techniques to create a cloud are abstraction and orchestration. We abstract the resources from the underlying physical infrastructure to create our pools, and use orchestration(and automation)to coordinate carving out and delivering a set of resources from the pools to the consumers. As you will see, these two techniques create all the essential characteristics we use to define something as a
"cloud."
Ref: CSA Security Guidelines V4.0

A Soc3 reports on the same information as a Soc2 report. The main difference between the two is that a Soc3 is intended fora general audience. These reports are shorter and do not include the same details as a Soc2 report, which is distributed to an informed audience of stakeholders. Due to their more general nature, Soc3 reports can be shared openly and posted on a company's website with a seal indicating their compliance

It can lead to loss of governance.
In using cloud infrastructures, the client necessarily cedes control to the cloud service provider(CSP) on several issues which may affect security.
The loss of governance and control could have a potentially severe impact on the organization's strategy and therefore on the capacity to meet its mission and goals. The loss of control and governance could lead to the impossibility of complying with the security requirements, a lack of confidentiality, integrity and availability of data, and a deterioration of performance and quality of service, not to mention the introduction of compliance challenges.
Source: ENISA- Security Risk and Benefits