SCs (and, by extension, ECAs) have consistently been viewed as a cost of doing business. The trend towards driving down costs through increasingly shared organizational models has been going on for some time now. SCaaS and the Hubs aren't a surprising result.
Technical leadership at Oracle has never done a good job of advocating on the behalf of the value that SCs/ECAs bring. However, that isn't surprising either given the culture. LE was the first salesperson/marketer at Oracle and has long believed that all that is needed is the ability to confidently market (ahem, spew half truths) in order to negotiate (e.g. manipulate) customers into buying. That founded a culture where sales reps were elevated and valued while everyone else was just a tool to get a deal done. Add MH to the mix with his sole focus on cutting costs and the erosion of perceived SC/ECA value has continued.
This all points back to the top where the culture originates from. With narcissistic personalities, it is no wonder that organizational changes are focused on trimming costs to keep profit margins up while buyback policies are all about keeping the stock price buoyed up. It is all about making sure that the oversized compensation packages continue to happen for those at the top. Customers and employees will continue to see an erosion of what Oracle offers for them.
There are other companies where the SC/ECA role is valued and respected. Sales rep and SC are peers in managing their own business territory. Some competitors even see the SC/ECA position as a key differentiator. To go with it, total compensation at other tech companies for SC/ECA roles can significantly beat what Oracle is paying. Unless you are younger and staffing one of the Hubs, it might be time to take a look around and see that there are better options that what Oracle is offering.