Its free until June this year, after that photos and videos will count toward your 15GB free allowance.
Also the free storage does reduce quality to something like 16mp. But that is fine for 99.999% of people who are going to use their photos for social media and viewing on TV and phones.
However I still think its one of the best options, in fact I have my 3rd level backup with google, about 50,000 photos. Nice thing is that its more than storage, it can analyse your photo and auto categorise them, so you can tag xyz person and it will find all photos it thinks has that person. Or you can search on beach and it will find your beach photos. Its also reads the extra data on photos like which camera, date, time, location, etc and will categorise on that that.