The end result of all this is that the percentage of people who know how to implement systems without AWS/Azure will be a single digit. From that point on, this will be the only "economic" way, it doesn't matter what the prices are.
But will the market demand it? AWS just continues to grow.
I've only had one outage I could attribute to running on-prem, meanwhile it's a bit of a joke with the non-IT staff in the office that when "The Internet" (i.e. Cloudflare, Amazon) goes down with news reports etc our own services are all running fine.
The number of things that these 24x7 people from AWS will cover for you is small. If your application craps out for any number of reasons that doesn't have anything to do with AWS, that is on you. If your app needs to run 24x7 and it is critical, then you need your own 24x7 person anyway.
Meanwhile AWS breaks once or twice a year.
Part of what clouds are selling is experience. A "cloud admin" bootcamp graduate can be a useful "cloud engineer", but it takes some serious years of experience to become a talented on prem sre. So it becomes an ouroboros: moving towards clouds makes it easier to move to the clouds.
That is not true. It takes a lot more than a bootcamp to be useful in this space, unless your definition is to copy-paste some CDK without knowing what it does.
If by useful you mean "useful at generating revenue for AWS or GCP" then sure, I agree.
These certificates and bootcamps are roughly equivalent to the Cisco CCNA certificate and training courses back in the 90's. That certificate existed to sell more Cisco gear - and Cisco outright admitted this at the time.
"Today, we are going to calculate the power requirements for this rack, rack the equipment, wire power and network up, and learn how to use PXE and iLO to get from zero to operational."
Youngsters nowadays start with very polished interfaces and smartphones, so even if the cloud wasn't there it would take them a decade to learn systems design on-the-job, which means it wouldn't happen anyway for most. The cloud nowadays mostly exists because of that dearth of system internals knowledge.
While there still are around people who are able to design from scratch and operate outside a cloud, these people tend to be quite expensive and many (most?) tend to work for the cloud companies themselves or SaaS businesses, which means there's a great mismatch between demand and supply of experienced system engineers, at least for the salaries that lower tier companies are willing to pay. And this is only going to get worse. Every year, many more experienced engineers are retiring than the noobs starting on the path of systems engineering.