Re: Spot on!
Lets further debunk these claims...
"avoidance of capex (and potential debt/difficulty to get loans)"
If you don't take out and repay any loans, you won't build up a credit rating and so will find it hard to get loans...
The only reason (other than tax) to avoid capex, is to avoid having to pay out a lump sum and maintain it as an asset.
It should also be noted what happened in the late 1980's as companies rushed to convert assets such as property into opex, whilst they did liberate monies that could be invested or (more usually) returned to investors, they also significantly increased their opex, with a massive downward pressure on prices these companies found that they could not compete on price with (mostly) foreign companies... the companies that retained their property assets (ie. continued to own their factories) could leverage this asset to keep their opex low and thus continue to be price competitive...
Third-sector organisations that rely on grants tend to find it is more renumerative to purchase stuff outright as grant giving organisations tend to prefer to fund capex.
"avoidance of maintenance cost"
The only thing avoided is explicit maintenance costs - your subscription to say Microsoft 365 includes maintenance.
"avoidance of obsolescence"
I laughed at this one, a client has their 15+ year old fork lift's via a service contract, the service company has no interest in replacing the fork lifts with more modern ones...
Which really gets to the bottom of the xyx-as-a-service lie. Once customers are hitched to the service there is little real need and incentive to innovate at the pace we have seen in the IT industry these past 40 years. So in fact there is the potential to miss/avoid the 3~5 year refresh and 10~15 years down the road, discover the world has moved on but your xyz-as-a-service provider hasn't. Additionally, we have the converse, a business has to suffer the service providers upgrades delivered at the service providers convenience not the user organisation.
"elasticity/flexibility up and down and in terms of contract terms"
The benefits only really accrue if you have very dynamic or loads with uncertain scaling requirement - something that was common 10+ years back when businesses first opened web stores.
"immediacy of services (for cloud services at least) with no lead times"
The real value of cloud/xaas is lead time/time-to-market reduction (of the IT infrastructure) and the size of investment needed to trial something.
"outsource of infrastructure expertise"
Many business, particularly small businesses that don't run an IT organisation beyond a single person have already done this, so it isn't something special to xyz-as-a-service.