Google App Engine and others also offer similar PaaS offerings. Yes, they all have similar limitations (and benefits).
Large companies I deal with don't rent physical machines, they buy them and then run a hypervisor platform across them to gain some of the availability benefits of an infrastructure cloud. It costs more, but you lower your risk profile. Many of these companies are looking at migrating their apps to a cloud platform (internal or external) to outsource the hardware / software / infrastructure maintenance. They are mostly interested in IaaS.
Large companies I deal with don't rent physical machines, they buy them and then run a hypervisor platform across them to gain some of the availability benefits of an infrastructure cloud. It costs more, but you lower your risk profile. Many of these companies are looking at migrating their apps to a cloud platform (internal or external) to outsource the hardware / software / infrastructure maintenance. They are mostly interested in IaaS.
Cloud is not just for Internet hipsters.