The problem with your claims here is they can only be right if the entire industry is experiencing mass psychosis. I reject a theory that requires that, because my ego just isn't that large.

I once worked for several years at a publicly traded firm well-known for their return-to-on-prem stance, and honestly it was a complete disaster. The first-party hardware designs didn't work right because they didn't have the hardware designs staffing levels to have de-risked to possibility that AMD would fumble the performance of Zen 1, leaving them with a generation of useless hardware they nonetheless paid for. The OEM hardware didn't work right because they didn't have the chops to qualify it either, leaving them scratching their heads for months over a cohort of servers they eventually discovered were contaminated with metal chips. And, most crucially, for all the years I worked there, the only thing they wanted to accomplish was failover from West Coast to East Coast, which never worked, not even once. When I left that company they were negotiating with the data center owner who wanted to triple the rent.

These experiences tell me that cloud skeptics are sometimes missing a few terms in their equations.