This really does open up the market for on-premises solutions.
It is quite interesting to scan through old abandonware sites (i.e like winworld) and see how many of these solutions would have been in a great position now to serve customers requiring freedom from the "cloud". (If they hadn't been killed off by competition from Microsoft ~10-20 years ago.)
At this point, some companies might even be considering (HCL) Lotus Domino as a solution again XD