Saas, like streaming media generally, has always been a play to remove the control that comes with ownership from customers and keep it in the hands of big tech. Remember when they discontinued the iPod? It wasn't because people weren't buying.
Apple stopped breaking down iPod sales in 2014, but at that time sales were just 25% of what they were at its peak. By 2022, sales may not have been zero, but it was probably pretty close.