I think you are being very pessimistic. All of their acquisitions are used to fund reinventions but due to their existing mainframe and other support contracts it makes a moat that people have a hard time crossing. I could see Oracle being merged or bought by IBM.
I definitely am pessimistic, but that is probably due to my time working for them :) I can't remember any acquisition during my time there that didn't get significantly worse. Red Hat was the one hold-out, but this thread is example enough for me to know that nothing has changed since.
