Cloud is renting servers: low cap-ex but high op-ex, minimal risk exposure, highly nimble.
Dedicated hardware is buying servers: high cap-ex but low op-ex , more risk, and more consistent.
There's nothing inherently "better" in either strategy; they each suit a different need.
Except in many places in Australia is actually cheaper than buying because poorly-educated investors have been sucked into the dream of financial freedom through owning an asset that always increases in value.
Cloud is renting servers: low cap-ex but high op-ex, minimal risk exposure, highly nimble. Dedicated hardware is buying servers: high cap-ex but low op-ex , more risk, and more consistent.
There's nothing inherently "better" in either strategy; they each suit a different need.