IBM's BlueBix et al was a direct result of the purchase of Rackspace, which was strategic buy to hedge against the growth market of Amazon and it's bazillion EC2-esque offerings. (Likely in response to seeing Amazon's success, almost strategically similar to why Azure and Google's App Service or whatever exist.)
They're still making money hand over fist in maintenance keeping the mainframes up (your state's DMV won't move off MVS/zOS as long as support for their old JCL/REXX stuff is still available, especially those 'cheap' z13s which come in at under 100k) but that's an entirely different tier of customer.
Maybe you mean softlayer. As far as I know Rackspace was recently bought out by someone else. I understand IBM wants to be cool but it doesn't make sense to promote an immature technology as enterprise ready...
They're still making money hand over fist in maintenance keeping the mainframes up (your state's DMV won't move off MVS/zOS as long as support for their old JCL/REXX stuff is still available, especially those 'cheap' z13s which come in at under 100k) but that's an entirely different tier of customer.