Not to forget - there are more choices than big-cloud and host-everything-yourself.

One can rent VMs from Hetzner at 1/3 the price of AWS (and 1/10 the data transfer fees). No managed services, like Dynamo or S3, but will full convenience of on-demand scale-up

Or, for mid-sized corporations - buying a rack of computers, wiring them together, and installing OpenStack to make an internal cloud - that isn't some black magic wizardry either