Hosting video is exactly elastic demand and a perfect use case for cloud computing. But not every business hosts video.

I’ve worked with companies that are moving at least some of their infrastructure back on premises.

https://www.infoworld.com/article/2336102/why-companies-are-leaving-the-cloud.html

There’s tons of good reasons to use IAAS, but there’s also a reason folks joke about the cost of aws.