Was he clearly wrong though? I listened through the whole clip and it seems like he was spot on to me. Steve Jobs made similar comments about cloud in the 90s - it’s really just mainframe 2.0.
No, cloud at root is dynamic on-demand provisioning. A lot of times SaaS built on top of cloud was (and is) marketed as cloud, without meaningfully offering dynamic on-demand provisioning to the customer, which blurs it a bit, but cloud had a distinct definition that was neither just SaaS or “mainframe 2.0” in any sense where using the term dismissively makes any sense.