[matt_s]

Cloud is not losing ground but also Cloud computing is also not suitable for every business problem. Its killer feature for businesses with fluctuating usage profiles and "busy" seasons. Think like a tax related application for businesses, in the US, they have to file quarterly and annual. There are probably busy seasons where there would likely be more activity so a cloud compute environment where you can scale up to handle the load with a couple commands is ideal and then scale it down (and lower your costs) during slow times.

Indie hackers and small < 10 people startups don't need cloud. However its easier to get moving and scale up and you can just tie in all sorts of other services to make your life easier. If you're on-prem or managing VMs you need to figure out a lot of infrastructure things, networking, security, logging, failover, etc.

Then there is transferring risk. If you host your own infrastructure and you have an outage unrelated to HW or data center, that is entirely on you and to be honest will probably happen more frequently than using cloud. When your cloud provider is down, if its a household name, everyone already knows because everything else they use is probably having issues too. Much easier explanation to customers, they likely won't leave over a cloud outage.