Also, you should never underestimate corporate inertia. Switching to a new system is immensely expensive, for many companies it won't happen, ever. Just look how many companies are still using decade old hardware and scour ebay for replacement 286 processors.
If nobody was using them anymore, they'd just be the dead-dead. The "walking" part comes from their existing support base propping them up.
"Oracle and EMC are fine, just like 286s!" is not an argument that would comfort an executive at those companies.
I'm not being snarky - I've seen many a large business make many a horrible decision, not due to a dispassionate evaluation of the pros and cons of each option, but because the people in charge hate change. And it's not that said change would be necessarily painful or demonstrably bad, it's an irrational bias.
Change hate appears to scale linearly with organizational size, more specifically, number of managerial staff.
It is not only about cloud. It is that these companies did not evolve to match current needs: it is about sales process (just try to buy cloud from Oracle and you will see), it is about support, it is about pricing, it is about technology (SOAP?) ...
We're going to keep local servers for a looong time to come.