Well, as a Azure Cloud expert I might be a bit biased but you are at least partially right. The thing is, the infrastructure AWS or Azure provides is too good to not be used. Companies of all sizes can profit from the high availability and low prices (in comparison to on prem infrastructure). The downside: there is almost no exit scenario. If big cloud providers crash or you want to move from cloud back to on prem... Well... You're screwed. Financially and effort wise.

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