At some point people will rediscover that "buying" whole sets of equipment through a lease financing company on a lease-to-own plan with $1 end payment, and colocating it the traditional way can often be significantly cheaper than paying endless "cloud" costs.

naysayers will say, but the cloud allows you abstract away your salary costs of engineers! look at all the people you aren't hiring!

I say: If your needs are sufficiently complex you already have a number of well paid six figure salary people on staff to admin your cloud-based software architecture/setup... Hire people who know how to build infrastructure down to the bare metal.