I'm a Millennial as well but I started out on hardware. You're not missing anything. There are still some use cases for on-prem hardware or for not building ou

I'm a Millennial as well but I started out on hardware. You're not missing anything. There are still some use cases for on-prem hardware or for not building out on a single cloud provider but they're getting harder and harder to justify. The main use case I can see for running your own hardware is if you need massive egress. There comes a point where it can make sense to run it yourself, I luckily work at places with large enough margins to still leverage cloud solutions for this though. Some guys don't know how to build things out on the cloud and are stuck in their way. When I was getting into the industry the old guys were still stuck on bare metal vs VMs. You should know how that went, most apps migrated to VMs no problem and a few apps stuck to bare metal for their own reasons. A lot of small/mid size companies don't have the manpower to properly move an app to the cloud. Sometimes products/companies have enough steam to build an app and barely support it but not quite enough to keep it competitive and current. Basically, it can be easy to get a profitable company/app started with a couple amateurs building the product. It can get very expensive when you need professionals. A lot of places don't have the margins to support a robust team of professionals. These companies don't always lack the foresight, sometimes it's impossible to get some breathing room to see the big picture or to get project funding instead of just upkeep funding. It can be expensive migrating something to AWS/Azure/etc and not just money but also manpower.