It makes no sense
So, now you have the system on your premises, but you still have to grant a third party access to the systems, what's the difference with the normal non-owned cloud? Nothing, just a hypocritical facade. If a company wants a private cloud to protect their data from industrial espionage surely this is not the solution.
It's a joke similar to the hypocritical solution usually applied to comply with GDPR whereby the data centre is located somewhere in Europe, but then the system administration is done via remote console from countries like India or the Philippines by workers whose pay is so low that they can be easily bribed.
Biting the hand that feeds IT
