I don't doubt it. The winds change often, sometimes quickly. People going to move to the cloud, people going to move back to on-prem, as sure as the sun is going to rise.
My hunch is you'll see a lot of move back on-prem during the next downturn when hardware providers need to move a lot of hardware under duress while businesses look at cutting their opex (you have to pay for cloud compute/storage forever, whereas you can run on paid gear for the cost of power, network, cooling, space, and the tech people you need anyway).
To quote Warren Buffet, “You only find out who is swimming naked when the tide goes out."
My hunch is you'll see a lot of move back on-prem during the next downturn when hardware providers need to move a lot of hardware under duress while businesses look at cutting their opex (you have to pay for cloud compute/storage forever, whereas you can run on paid gear for the cost of power, network, cooling, space, and the tech people you need anyway).
To quote Warren Buffet, “You only find out who is swimming naked when the tide goes out."