Ask HN: Cloud versus on-prem. Which is better?

HNers what are your thoughts on cloud versus on-prem datacenters?

Dell Technologies is seeing an increasing number of customer repatriating activities from the cloud to on-prem. They quoted a report showing that 80% of companies were doing this in some form.

Reasons given were cost, security and performance.

Cost might be a factor since I understand if you are running a constant load, its cheaper to do this with your own hardware. Cloud is better for flexible capacity if you need to scale up quickly.

Security... people are not always rationally and may be scared about end point exposure.. not always an issue with VPNs. Also you can't inspect AWS datacenters so banks can use them

Performance - could be a latency thing. AWS does not have 100% global coverage.