We had some early products the same way Microsoft had early Windows Mobile. When AWS came and changed the world we arrogantly sneered that we already did that, the same way that Microsoft did when the iPhone launched. By the time we realised it was in fact not the same thing and tried to launch something it was too late, like Windows Phone 7/8/10.
Microsoft did not miss cloud the way they missed mobile. Oracle has missed cloud, but hopefully we will be there for whatever is next. I doubt it though.