Azure and M365 are two completely different product offerings. Plenty of organizations can get M365 without Azure. You use the Azure portal to admin users in Azure AD for M365, but the Azure IaaS/PaaS/SaaS are completely different SKUs and consumption metrics.
Teams is a separate SKU from M365 as well. MOST enterprise licensing for M365 includes Teams, but Microsoft internally tracks Teams consumption separately.
To be clear Azure != M365/Teams. Never has.
E.g. When I want to revoke my Office365 app tokens, I have to first authenticate into Azure. So from my perspective, Office365 is part of Azure, functionally.
So, is Office365 (including Teams) hosted in the Azure cloud? If Office365 is not hosted in Azure, then where? In AWS? Google Cloud? Seems unlikely...