I would not say SaaS is a problem in itself(I built and run one myself). Software as a Service simply means that you can run an application on a remote machine, which you do not have to manage yourself and can pay only for what you need. That makes perfect financial sense.
The problem with SaaS today is that the subscription-based model is getting out of hand - the value proposition no longer makes sense, in many cases.
And secondly, vendor lock-in. You cannot get your data out. Or if you can, you will be less likely able to migrate to another provider or local application which means there is no free market where various providers can compete with better features, customer support, availability or price. Therefore, in the end the provider will hold you hostage via your own data. This is, after all, Amazon AWS's famous moat. It is often very expensive and painful to migrate into some in-house solution. And often it is simply not possible at all as it might require such a massive rewrites of your own application(understand as dependency on the provider), that it is not in the realm of possibility.
So with like everything else, you are responsible for your own choices and if you make a bad judgement, like tying yourself to one provider, that is all on you.
People keep yapping about monopolies in tech, yet they vehemently dislike decentralisation or taking care of their own stuff and want to have all the things on one place. But when things do not work out as they wanted, then these monopolies become a problem that is too late to mitigate.
tl;dr do not use SaaS of mission-critical functionality and you'll be fine.
The problem with SaaS today is that the subscription-based model is getting out of hand - the value proposition no longer makes sense, in many cases.
And secondly, vendor lock-in. You cannot get your data out. Or if you can, you will be less likely able to migrate to another provider or local application which means there is no free market where various providers can compete with better features, customer support, availability or price. Therefore, in the end the provider will hold you hostage via your own data. This is, after all, Amazon AWS's famous moat. It is often very expensive and painful to migrate into some in-house solution. And often it is simply not possible at all as it might require such a massive rewrites of your own application(understand as dependency on the provider), that it is not in the realm of possibility.
So with like everything else, you are responsible for your own choices and if you make a bad judgement, like tying yourself to one provider, that is all on you.
People keep yapping about monopolies in tech, yet they vehemently dislike decentralisation or taking care of their own stuff and want to have all the things on one place. But when things do not work out as they wanted, then these monopolies become a problem that is too late to mitigate.
tl;dr do not use SaaS of mission-critical functionality and you'll be fine.