So I kind of agree that most projects don’t need multi cloud but any enterprise will have a bunch of different things which can be managed by Terraform. There is real value in being able to use the same tool to manage AWS/GCP/Azure/etc., Cloudflare, GitLab, VMware, and even racks of Cisco kit in the basement.
If you’re doing it that way, you avoid most of those multicloud drawbacks because you’re using the full native functionality, not building abstraction layers or racking up technical debt by sticking with the lowest common denominator.