Just my perception given the front page. I agree it's a bit vague.
What they're selling is building blocks for private/hybrid/public clusters that may or may not fit your definition of cloud depending on where they happen to be located but where what the term signifies is that it is built to be a building block of a cloud setup that includes features above and beyond a "regular" server to provide what most people tend to associate with a cloud. That is, you're getting APIs to spawn virtualized compute and storage, rather than having to install a hypervisor and management APIs etc. and combine the resources into a cohesive whole yourself.
My guess is that most of them will end up being sold to either hosting providers to provide cloud services to their customers or companies large enough to operate their own data centres where the IT department will use them to offer cloud services to other parts of the business, where the term really is not misleading anyone.
It's too big even for most "private clouds" in smaller companies, because they tend to be too small to be able to order by the rack even when there are APIs etc. offered to developers to provision compute and storage (e.g. years ago I used to operate a hybrid cloud setup with a ~1000 or so VM instances across several countries, and while we had several racks worth of gear we physically owned in aggregate, we didn't have any full racks in any individual location).
None of that applies here.
Define "I"?
I-as-developer can call an VMware/OpenStack API with an on-prem/private cloud and get a new instance just as easily as calling an AWS API. I-as-developer does not have to worry about elasticity if the IT hardware folks have the capacity.
As an engineer, an Oxide system works like any other cloud provider. You’re just interacting with its API and tooling like you would with Google Cloud or AWS.
To someone on the IT/Operations side, obviously there are differences but theres SIGNIFICANTLY less labor required to build-out and operate an Oxide system vs a rack full of servers. The biggest difference for these people is that there’s actual hardware vs a Cloud Provider, but also costs are fixed so there’s likely no monthly or quarterly meetings with finance arguing over the cloud bill, tying people up to try and shave a few thousand off the bill every month.
In finance/accounting, Oxide is probably the most different: now compute is CapEx rather than OpEx. Depending on your company’s stage that can be a wonderful thing for the bean counters.