Sometimes renting from the cloud is a perfectly acceptable solution. However companies leap to using AWS and similar cloud solutions WAY more than necessary or advisable. It is easy to rack up thousands in bills outstripping the costs of buying some hardware and slapping the software onto it. The cloud can scale and do a bunch of cool things but much of the time companies don’t need it, or the complexity it brings. There is also the small matter of data sovereignty - if I were a company using the cloud I would be extremely wary of one which is operating outside of my legal jurisdiction and for governments it just a flat out bad idea.