It's already happening. All those "server and tape monkeys" that were getting middle class salaries at large corporations are finding themselves downsized as companies move to more XaaS platforms for their mission critical apps, and the rise of AWS/Azure.
It's the tip of the iceberg at this point (in my opinion). Not to mention, as people move to AWS, what happens to all of the sales reps, sales engineers, implementation engineers, support staff, etc. at all of the major hardware manufacturers? Those jobs just go away...
But you are talking only about one section of the IT industry (Servers and Hardware). The apps that are moved to those saas platforms have to be developed and maintained by someone. What about development? research? security? consulting? etc...? I remain skeptical...
It's the tip of the iceberg at this point (in my opinion). Not to mention, as people move to AWS, what happens to all of the sales reps, sales engineers, implementation engineers, support staff, etc. at all of the major hardware manufacturers? Those jobs just go away...