in my org
The cloud saves us a few minutes over our old template builds, but doesn't handle any corner cases (dmz, remote sites) so we still have to maintain and build those. Template/script mainentence used to take a few hours a month, now we have 4 full time cloud maintainers that do virtually no other project work. None of the absolute shit ERP software we buy from oracle even supports dynamic features that would justify a cloud...
At a development or web firm, clouds are great. Eventually vendors will sell burstable software for everyone to take advantage of it. But for us it's "keeping up with the Jones's" with a hugely negative ROI. And also a bunch of annoying kids telling me I have to change my whole way of thinking.