The profits you don't pay to hyperscalers is investment in your sovereignty. Easy case to prioritize stakeholders over Google, Microsoft, and AWS shareholders, and the US government's ability to rug pull your access and data at any time. The argument isn't bare metal vs virtualized; the argument is "Do you own it?" You are spending a certain amount no matter what to get the technology capabilities needed.
37signals Leaves the Cloud - https://news.ycombinator.com/item?id=33260061 - October 2022
https://blog.codinghorror.com/the-cloud-is-just-someone-else...
(have built cloud infra for startups, fortune 100s, financial services firms, and on prem infra for high energy physics, non profits, public goods, etc; thoughts and opinions always my own)
If its outsourced the downtime is someone else's fault.
People prefer opex to capex.
You are right at a technical level, but short termism and personal incentives trump those.
Agreed. Never let a crisis go to waste. This is that crisis. Like bankruptcy, change happens gradually, then suddenly.