Aside from the 'it's a cargo cult' discussion, when we start dissecting these technical merits we often miss the business angle of __Accountability__. This is exactly the reason why you see Fortune 500 companies paying millions to external consultants for what seem to be fairly trivial advisory/decision making tasks.

If you are running something big enough and business critical enough and you roll your own custom _anything_, even if you save a gazillion, you are a hero for the next quarter. But if your custom solution goes fubar you are packing your boxes. The effort/time/cost of managing/configuring cloud anything is negligible if it allows people in companies where Software is a cost centre to deflect liability if something goes fubar.

It's pretty much the revamped 21st century version of the 80's meme "nobody got fired for buying IBM". Nobody will get fired at big corp for going all in on Azure or AWS. Look at CrowdStrike's cluster fuck, there were zero heads rolled for using the cloud services impacted by it. The very opposite would be true if it happened on bare metal servers. Google, Amazon, Microsoft, carry a 'too big to go wrong' halo with them (at least in public discourse) and that just sells.