To me AI might have tilted the economic on doing in house a bit but it has been at least a decade or more that I find most enterprise SaaS, in the way they are used 80% of the time, could be recreated with a few developers in house. Instead of 10-20 developers maybe you only need 2-5 with AI, so for most big companies that doesn’t change much. A company that wants to build in house still has to hire a team. And in most non tech industries even if more expensive usually a service is preferred. SaaS was never (only) about costs, developers were already wondering why people would pay for an expensive CRM 10 years ago when it was only basic CRUD.