You're right, it would depend on the business.

A small 3-4 person office is probably saving way more money using cloud-based SAAS than hiring an IT team. The larger the company gets the less of an impact they would feel hiring more personnel or buying hardware.

It isn't that these services are always bad. It's just that, like everything in the tech sector, they've collectively reached the point where they're enshittifying and trying to squeeze their existing customers rather than find new ways to add value.

Eventually the increasing costs will make alternatives more attractive.