That does sound like it could plausibly be related to the hub hardware, although not necessarily.
If you want to troubleshoot, consider checking this post and then include the info requested here.
I disagree. Cloud backups have always been a part of the hub protect service since it was released. It’s one of the perks of the (optional) subscription, along with the hardware replacement in the event of a failure (but the cloud backups can be used independently of that specific scenario).
Hubitat staff decided also to offer a free cloud backup when migrating from an older generation hub to a newer generation hub.
But not for any migration between hubs of the same generation prompted by a hardware failure.