> Had the cost of building custom software dropped 90%, we would be seeing a flurry of low-cost, decent-quality SaaS offering all over the marketplace, possibly undercutting some established players.

NODS HEAD VIGOROUSLY

Last 12 months: Docusign down 37%, Adobe down 38%, Atlassian down 41%, Asana down 41%, Monday.com down 44%, Hubspot down 49%. Eventbrite being bought for pennies.

They are being replaced by newer, smaller, cheaper, sometimes internal solutions.