Cloud is crucial to Oracle? I doubt that is really the case.
"Cloud" will in restrorespect probably be the initiative that broke Oracle...
Coud is the actual hype and here to stay, agreed.
However, Oracle was/is mainly a _tool_ vendor. Oracle DB, Oracle Middleware and a host of other products have been very competitive offerings in the past.
As cloud provider Oracle is an also-ran. And I don't see that changing.
The negative effects: While Oracle frantically tries to grow it's own cloud buisiness, other Oracle products suffer from less-than-stellar support, Oracle licensing is tightened up to forbid cloud installs on other vendor's clouds or to make these very expensive.
So it has become rather inconvienient and/or expensive to use Oracle tools on everything else than on Oracle's own cloud stack if your runtime or development enviroments include cloud servers, VMs, containers or anything else apart from bare metal servers... and which environments do not do that in 2018?
My prediction is: Oracle hurt themselves in the long run:
1) Oracle Cloud is set to keep its niche position against the likes of AWS and Azure. Economies of scale prevent keeping pace with the big players.
2) In its effort to help their own cloud business, Oracle destroys the value of their tool portflio they built and purchased in the last 25 years, by driving away customers through licensing mayhem.
3) The way Oracle currently tries to press customers into Java support contracts for Java 8 and 11 will make it very difficult for their sales teams to sell anything to anyone who is not yet dependant on their software.