"Cloud is not the silver bullet."
You can say that again. And it depends on where you are. In South Florida the cloud - well - sucks. Due to the carriers not being able to keep their networks up. I know companies who moved their PBX into the cloud (I'm going to name carriers) with Earthlink, Windstream, Comcast and ATT - misdirected, noisy (like talking in a wind tunnel), dropped calls; all classic signs of over extended networks. Latency. And you feel helpless cause all you can do is call your carrier and wait on hold for 45 mins.
I know another company, a local gym, which (the owner is a SOB so he deserved everything he got) got talked into moving his cash register into the cloud. I warned him against it. But he accused be of not being "up-scale". His way of telling me I didn't know what I was talking about. Of course, a couple of weeks later his Comcast goes down. He calls me, begging for help. I was like, "Nothing I can do. You have to call Comcast".
In South Florida, the only reliable service is fiber. Even T1's are fragile. And fiber isn't cheap.