I don't know where you get your data from, it seems like you're generalising ...
Cloud is a mess in general, not just at SAP. We're devolving in ERP software because of the cloud hype to the state of the 80s where nothing was properly integrated. Let's talk in 5 years when this generation repeats history. It's partly SAP's fault for promoting their cloud products at the expense of the on-premise products. Making experience with two cloud solutions and they're just puerile compared to classic SAP - unstructured information, missing information structures that are long required by law, basic workflows, it's just unbelievable customers accept it - and then they keep the classic SAP because it does what it's supposed to do. And with all the new economy wars I expect that "cloud" will be deployed in each country to avoid blocking and just like with netflix some parts of it won't work from certain countries (for multinational companies). Cloud won't ever work 100%, no matter how evolved we are (one country) - because at some point we'll have to move to other planets.
SAP software is not dog old. Is actually legally up to date in many countries. If users hate anything that might be the UI but why would a normal user know about ABAP? ABAP's power is in its APIs which are massive - the libraries of all kinds of business functions and legal implementations - so what if it's old, normal functional consultants can understand it, which wouldn't be the case if it would be a super fancy new language. Change for the sake of change, from SAP, that's a recipe for success... of the consulting companies riding the latest trends not for the customer. Slap a version of SAPGui for the iPad packaged with a VPN connection and you're good to go with all current SAPGui applications - that could be something that SAP could do in a jiffy (why aren't you doing it SAP?).
"People would rather have best of breed" - yeah well if you skip leg day you can't do chicken shit in real life - it all has to work together otherwise your just creating a Frankenstein monster. The cloud house is creaking at its junctions - the customer will tend to the junctions instead of tending to the walls and other parts as before.
I don't get why some of you here have such negative feelings towards SAP - SAP is a complete software suite that considerably simplifies work and can be customised to fit the most complex processes. That is not the case with the new high kids on the block.