>Are you sure Amazon, Google and Microsoft don't have this competitive stack because they don't want to enter that market or are in that market solely for themselves
They have "competition" in the market, it's just horrible. Because storage is hard.
>Storage may be a multi-billion dollar market - but it's also razor thin margin compared to where those brands focus their R&D spend.
I'm going to let you go back and review the earnings reports from the aforementioned companies. Razor thin margins? You wouldn't survive in the market with razor thin margins.
> I'd argue those you've named don't have interest selling storage to the enterprise in the form of legacy boxes.
I'd argue Azure Stack, AWS Outpost, and Google Anthos readily prove you wrong.
> Cloud storage is also recurring revenue where enterprise storage is considered perpetual.
Just... no. Enterprise storage has a shelf life of 3-5 years before maintenance or technology make it obsolete.
>The latter is generally frowned upon from the Street's perspective these days (good, bad or otherwise).
https://www.google.com/finance/quote/NTAP:NASDAQ
5 years ago they were at $20/share, today they're at $69/share. Reality doesn't appear to match your claim as to the street's opinion of enterprise storage.