It seems to me that what Larry's saying is that the idea of software as an on-demand service is nothing new. What he's objecting to is the hype around the "cloud" buzzword - as if it were some new invention and not simply internet-based, on-demand computing.
I can feel for him. I often find buzzwords are used to describe things I've been doing for 10 years in a way that makes it seem like people who only just discovered that thing are "more current" than me.
It's frustrating, and it actually comforts me that this can happen even to the likes of Larry Ellison.
