>It just seemed like one of those Microsoft products that only exist because the best product in the category isn’t owned by Microsoft already.
They've bet the future of the company on it, it's definitely not a product that only exists because the best product in the category isn't owned by them.
Short of Microsoft as a company going under, Azure won't be going anywhere. There are countless companies that will not do business with Amazon due to them being direct competitors and Azure tends to be the place they land. As others have noted, while there may be some technical gaps between Azure and AWS, they more than make up for it with their legacy enterprise domain knowledge and support (in my experience).
GCP under Kurian appears to be trying to cater to that same subset of customers, but the culture of Google still seems to be a pretty major uphill battle when it comes to being "enterprise friendly".