Pure replacing Tier-1? When has that ever happened?
I know Pure has done well, but let's be honest. They've been selling into the VDI / VSI space in the small-to-medium Enterprise space. They're not known for taking down VMAX replacements and running Tier-1 databases. This is why they've done so well with the channel partners who like taking-down easy deals.
If their IPO depends on channel taking down Tier-1 replacements, they're going to have a hard time.