It’s another paradigm shift, isn’t it. In corporate IT every software update had to be approved by the user community before it could be rolled out. When the software resides on the cloud the user community (now in millions) suddenly doesn’t count, and the geeks plus their MBA managers rule.
No, it’s trying to sell something old like it’s new. It’s just 1970s dumb terminals using the internet. There’s some benefits to IT but they’re generally out weighed by the problems. Normally when the corporate internet connection goes down people lose the ability to goof off and productivity goes up, if you’re on the cloud productivity ends. Then there’s the problem of your software providers being able to hold your data hostage until you renew the support contract. The companies that shift to it will learn the hard way and shift back.