It does, as OP mentioned, they’re making money doing it and it’s a better busine...

It does, as OP mentioned, they’re making money doing it and it’s a better business model for number of reasons.

For example, Adobe is the largest SaaS by revenue:

— Model clearly works if you look at Abobe’s revenue per year since 2004:

— Here’s a detailed history of Abobe, if you’re interested in the SaaS part, just search for “SaaS” on the page: