In my experience the maintenance overhead of the cloud is much lower. My dayjob (B2B SaaS) spent about 75% of the infrastructure team’s time on things like patching switch firmware, balancing UPS loads, diagnosing flaky switch ports or transceivers, managing logging growth, etc. None of that made our products better from a customer perspective.
Since our cloud move those same infra staff support many more services and apps with much faster turnaround for product teams. And we traded upcoming multi-million capex investments in servers/switches/appliances into a monthly cloud bill that scales much more closely with revenue.
The public cloud is for businesses constrained by people; we simply could not afford to hire enough people to do the same stuff on-prem or in colo.