I'm certainly with you on The Cloud. I've been expecting a backlash for a while, but not much sign of it so far. A big monthly bill from $CLOUD_VENDOR_OF_CHOICE seems to have become this century's equivalent of "nobody gets fired for buying IBM".
Makes me think: a few years ago, there was some or other beer in the UK that was (heavily) advertised with the slogan "reassuringly expensive". The Cloud vendors (perhaps AWS in particular) seem to be going down that path a bit. Very interesting to juxtapose the reluctance to pay for software with an apparent eagerness to pay for Cloud services.