Certainly, but you need stakeholders who are willing to make the investment, do the hard work over years, decades even, and not use it as resume building who are going to bounce to something else and leave a pile of garbage behind.

Are governments willing to keep technologists happy to run sovereign clouds with comp and working arrangements? Or are they going to treat them poorly and pay them poorly?

This is why mainframes still run while other workloads churns back and forth between on prem and cloud: hype cycle peaks, folks moved to cloud, found out it was super expensive and they didn't need the agility it provides, and now they have sticker shock and are trying to figure out how to come back on prem. But come back on prem to what? VMware gonna rake you over the coals, and there isn't a great on prem story besides say, OpenShift after Mesos.