Solution: Subscribe to a middle-man that manages it for you.
Problem: The middle-man is slowly turning the screws to increase its profits.
Solution: Subscribe to another middle-man to figure out how to decrease the first middle-man's profits.
It seems to be a universal truth that computing people try to solve all problems with another level of indirection.
For most, this was never the effective reason.
Most rationales behind cloud migrations are likely based on quick scaling, which is meaningless in most cases - except for the signalling of committing to a future where demand hockey-sticks upwards.
It's valid if you are netflix, but how many netflixes exist in the world?
This isn’t about computing but about specialization. Should McDonalds be in the business of operating Data Centers? Or should they just buy it from those who do it best and focus on selling food?
Should they be in the business of cleaning bathrooms, or should they just outsource that to a temp agency? Sometimes specialization pays, and sometimes it doesn't. Perhaps it doesn't make sense for McDonalds to run its own web and corporate servers, but doing so might make a lot of sense for more tech-centered companies. And I'd guess a server farm is miniscule compared to the size and complexity of their ingredient supply chains.