MongoDB invested sufficient resources in drafting an update to the AGPL. That license is called the Server Side Public License. Controversy ensued.
Now technically maybe it could meet the OSD if it required a royalty for hosting the software as a SaaS product, instead of banning that - since it allows "free redistribution", and passes on the same right to anyone receiving it (it is defined in terms of prohibitions on what the licence can restrict, and there is no restriction on charging a set amount for use unless that requires executing a separate licence agreement).
Now arguably this is a deficiency in the OSD. But I imagine if you tried to exploit that, they might just update the definition and/or decline to list your licence.
At least that's my understanding. They closed source completely, but a source-available license wouldn't have run into this issue.
If a Big Tech company happened to build a cloud service (SaaS) around your project without any code change, and that service is more competitive than the one you provide, there is not much you can do about it with the AGPL.
The AGPL is published by the FSF, with mainly community-led projects in mind. The profit and sustainability of a corporation is not their primary concern. (A minor correction: The most recent version is v3; any newer version would be v4, not v2.)