I think the general consensus is that the most-root cause for why cloud infrastructure and microservice architectures matter is more People, less Technology. Its hard to hire highly experienced people, especially at the hundreds-to-thousands of engineers scale that many companies operate at.
That, in isolation, is reasonable. The actually uncomfortable question that no one wants to address is: was that a scam. Put another way, how much of that was a zero-interest rate phenomena, and how much "state of art best way to engineer" things was influenced from that, and has root causes in US monetary policy.
Between AI and high interest rates: if you're not ready to spend the 2020s questioning every single thing you think you know about software engineering; you won't be long for the industry.