We’re not all going to the public cloud overnight. That’s why the hybrid cloud is a critical concept for enterprises. The idea of a hybrid cloud is that you keep your server farm and massive investment in VMware, Oracle, and whatever else you bought over the last 20 years or so and relocate some workloads to the public cloud. You’ll also create a private cloud with many of the same features of a public cloud. Meanwhile, you may have some apps that aren’t going to make it to either a private cloud or public cloud.
The hybrid cloud lets you run your infrastructure locally, get some of the features of the cloud in terms of tenancy, provisioning, and scaling, and then be able to relocate an app to the public (or perhaps private) cloud when you’re ready. In reality, some data or services may never make it up to the public cloud for regulatory, security, bandwidth, or cost reasons.