Given high cloud costs, is anyone rethinking their application migration strategy?

Our focus is really on application consolidation. If we can consolidate various legacy applications from different parts of the company onto a single new and current application on the cloud we have a better chance of having an economically viable project. The cost savings may include staff reductions, maintenance reductions, licensing fee reductions or elimination to reduce overall total cost of ownership. Don’t move 1-to-1 to the cloud. That is likely a total cost increase

Cost is one variable to analyze, you should look at the bigger picture of capability and flexibility that you gain with the investment in cloud.