I'm conservative as anyone, but...
"cloud computing, HSM, virtualisation, all stuff that's been around for decades under a different name"
Not it hasn't. Pretending otherwise is not a service to anyone and is the general region of "IT creationism".
The situation where IBM had "virtual machines" back when on extra-expensive hardware built from discrete logic and triphase current converters where you could admire the 256 KByte RAM usage indicator on a terminal screen and sip coffee while the next program was spooled from a magnetic tape is NOTHING like today.
Or maybe a WWI infantry charge is just like a modern tank brigade plus air support coming at you. Who knows.
Biting the hand that feeds IT
