The concept is promising, agreed. But like most (all?) recent IBM products, the failure point will be in the execution of the concept. IBM is a marketing company at this point, not a serious technology company.
Execution and rent-seeking – their culture is based on high margins so they tend to design things which will put a lot of hard to migrate logic into their app and even when they know they’re competing against more affordable options the prices will be eye-watering. I assume that the whales who do buy generate enough revenue to make up for the lost sales but it doesn’t seem like a good long-term strategy.