Most non-hosted software has the benefit of being a one-time charge that is always available, and can continue running for decades at no extra charge.
Not had the 'pleasure' of having to deal with Oracle then? Or SAP. Or Sage, or any one of the many bits of enterprise software that insist on annual license fees (which never seem to get cheaper).
Also, these days "Your whole business stops when your internet goes down" is a problem that doesn't happen if you're using cloudy stuff (because everyone is at home), but is a problem with on-prem. We just keep shifting out single point of failure around.