[bfung]

It's not quite as simple as that. User boulos's comment below adds more to the estimate given and includes things that tech companies these days don't want to contend with / have flexibility towards.

In general, you're correct, but in colo-skills don't exist with AWS/GCP power users today. Management and skills of tech companies today don't even know where to start for hiring colo-skills. So it's all avoided w/the cloud tax.