I am skeptical about the whole Cloud story. Has the faint stench of the housing bubble.

It made sense when the story was about renting out spare data center capacity. Amazon and Google had a ton of excess which started the story.

Microsoft, Oracle, IBM et al did not, but had to react to Amazon and Google Cloud and had to build up capacity. Then the game turned into ensuring all that new capacity was utilized. Enterprise needing to make the shift to Cloud is driven almost mindlessly by that fact, much more than actual Enterprise needs and issues. Utilization is achieved by smart marketing, a ton of it, targeted at dumb Enterprise.

This feels like some honeymoon period.