Nice write-up, mostly agree.
I don’t like backwards compatibility for cloud services which sort of AzureStack is like. However, I think it serves a good purpose. It gives organizations the change to adapt to cloud-like services and after a while they can easy go from hybrid to native cloud where current migrations for AWS / GCP are a lot harder and need stronger leadership.
So it will server a purpose for a period of time and after a while MS can leave AzureStack behind and call it “classic Azure”.
It’s a “late majority” thing.