Some of the hype has disappeared too. I remember when there was a general idea that cloud would "eliminate" your need to have ops teams, because you won't need them, Amazon just takes care of it for you! Now everybody knows that's not true. It might reduce it vs. a datacenter but certainly you need people setting up cloud resources and diagnosing problems. I also remember when the idea was floating around that simply being in the cloud made your software resilient, period. Now I think there's a greater understanding you still need to do some things to get that result, even if it's easier than doing it all yourself.

Also haven't heard as much about it being cheap. Again, it might still be cheaper than some other options, but it certainly isn't the case that it's just magically cheaper. The thriving field of companies who help you reduce your cloud spend is evidence of that....