They've reinvented the IBM Mainframe. Big rack-sized box with lots of redundant hardware that serves guest VMs. This is basically a zSeries in drag.
The key difference is the price structure -- IBM leases the hardware wherever they can get away with it, and uses a license manager to control how many of the machine's resources you can access (based on how much you can bear to pay). This, however, is like a mainframe you own.