Re: Err but...
Well. Until Project Waltz I *did* work for IBM, and indeed at IBM Hursley. Very probably I was working on one of those products you mention. And I'd have to say that I totally agree with the article. IT Services have been a critical IBM source of revenue for quite a while now, whilst the market for its cash-cow software products is (or certainly was at the time I last saw figures) slowly but steadily contracting. I have nothing but admiration for the quality of many of the technical folk who, even now, work in the IBM labs - but when was the last time that IBM developed (rather than bought) a truly new software product? Decades ago.
Seen from the viewpoint of a mere grunt inside the company, IBM senior management seemed to have no "strategy" worthy of the name beyond pushing the share price at all costs, and amassing their personal stock options before moving on. Investment in people was near-invisible, and the overall atmosphere was pretty poisonous. From such things as I hear from my contacts inside the company, nothing much seems to have changed.
IBM has, in my opinion, been on a long, slow slide into oblivion ever since the bean-counters took over from the techies in the 90s; the only real question in my mind is how long it can keep the cracks in the facade sufficiently papered-over to stop the market noticing.