The last company I was at was a greenfield cloud thing. They had no app stacks, everything was brand new. Their existing technology was outsourced and that company did everything from software dev to hosting and support etc. At one point before I started the company felt they had outgrown that outsourced provider and wanted their own tech team to build their own app stack. So they hired a CTO and he built a team, and they started building the new software stack.
He hired a former manager of mine whom hired me at the previous company, I worked with him only a couple of months but that was enough I guess. That previous company was hosted in Amazon cloud(also greenfield). This manager saw the pitfalls of that and wanted me at the new company mainly to move them OUT of the cloud (they had yet to actually launch for production).
They launched production in Sept 2011(I joined May 2011), after doing many weeks of their best efforts at performance/scale testing(I was not involved in any of that part). All of those results were thrown in the trash after a couple of weeks and the knobs got turned to 11 to keep up with the massive traffic. Costs skyrocketed as well, as did annoying problems with the cloud. We started ordering equipment for our small colo (2 racks, each roughly half populated initially) in early Nov 2011, and installed it in mid Dec 2011, and then moved out of Amazon to those two racks in early Feb 2012(I was a bit worried as there was a manufacturing flaw in our 10Gig Qlogic NICs that was yet to be solved, ended up not causing any impacting issues though). I repeated a similar process for their EU business which had to be hosted in the Netherlands, I moved them out in July 2012 to an even smaller infrastructure, probably about half a rack at the time. In both cases, equipment was at a proper co-location, not in a server room at an office.
The project was pitched by my manager as having a 7-8 month ROI, the CTO got on board. It wasn't easy convincing the board but they went with it. Project was a huge success. I dug up the email the CTO sent back in 2012, and sent it to the company chat on the 10th anniversary last year. He said in part "[..] In day 1, it reduced the slowest (3+ sec) Commerce requests by 30%. In addition, it reduces costs by 50% and will pay for itself within the year."
I believe we saved in excess of $12M in that decade of not being hosted in cloud(especially considering the growth during those years). Meanwhile had better performance, scalability, reliability, and security. Last/Only data center failure I've experienced was in 2006 or 2007, Fisher Plaza in Seattle. I moved the company I was at out of there quite quick after that (they were already there went I started). Remember that cloud data centers are built to fail(a term I started using in 2011), meaning they are lower tier facilities which is cheaper for them, and is a fine model at high scale, you have to have more resilient apps or be better prepared for failure vs typical enterprise on prem situation.
So count me as someone who disagrees, greenfield cloud is rarely the best option.