I feel like the cloud hosting companies have lost the plot. "They can provide better uptime than us" is the entire rationale that a lot of small companies have when choosing to run everything in the cloud.
If they cost more AND they're less reliable, what exactly is the reason to not self host?
For a start-up it's much easier to just pay the Cloud tax than it is to hire people with the appropriate skill sets to manage hardware or to front the cost.
Larger companies on the other hand? Yeah, I don't see the reason to not self host.