To add to your point I think the competitiveness will increase over time with further technology innovation. Cloud providers are constantly adding features and

To add to your point I think the competitiveness will increase over time with further technology innovation. Cloud providers are constantly adding features and trying to catch up with each other. New entrants are adding novel competitive dynamics as well (e.g. Cloudflare or Deno Deploy). The cloud market is so large ($ TAM; also growing rapidly) I think there will always be a tailwind of investment and innovation that prevents monopolistic stagnation.