The capital requirements needed to spin up a public cloud and the services that come with that are absolutely massive. It makes me think that cloud computing, despite the gigantic profits it brings in, is not sustainable on its own.
The only other companies I can think of that tried being/are trying to be _just_ cloud provider are Rackspace (which has been barely hanging on as the CSPs are eating their lunch) and Hetzner (who seem to be doing okay), but both of these companies lean more towards "hosting provider" (i.e. renting compute is their business) rather than "cloud provider" (i.e. providing platforms for many use cases).