Some orgs are looking at moving back to on prem because they're figuring this out. For a while it was vogue to go from capex to opex costs, and C suite people were incentivized to do that via comp structures, hence "digital transformation" ie: migration to public cloud infrastructure. Now, those same orgs are realizing that renting computers actually costs more than owning them, when you're utilizing them to a significant degree.
Just like any other asset.