Correct, but that misses the point I was making entirely. Running S3/Elastic/API-X wherever you'd like is a separate issue to the kind of problem that Elastic faced with AWS. AWS soaked up a huge amount of Elastic's potential market, because they are so big and entrenched. Only AWS, Azure, and GCP are big enough to do that - and I don't see anyone "stealing" a reasonable degree of S3 customers from AWS by using Minio (let alone any business model that Minio might be exploring).