Oracle is a joke in IaaS cloud because:
1) Never before have C-level executives made so much money by making such bad decisions and having zero vision. LE literally laughed at cloud in 2009 and instead decided that Oracle would become a hardware company. How is that working out? https://www.youtube.com/watch?v=KmXJSeMaoTY
2) As a result, Oracle was very late to the game. Basic IaaS services were not GA until 2016, ten years behind AWS and 5 years behind Azure.
3) Gartner did not even put Oracle on the IaaS Magic Quadrant until 2017, due to "lack of market share" and "insufficient services offering."
4) Oracle has not invested enough in cloud infrastructure to compete. According to Morningstar, over the past 4 years, Oracle has invested $3 billion, Microsoft $14 billion, Google $30 billion.
5) Oracle has made bad acquisitions and false starts, the same problem as with IBM. Oracle tried to build a public cloud with the technology acquired from Nimbula using leased data center space from Equinix. It didn't scale or compete. Then in 2016, they had to start over with Gen2 / Bare Metal cloud, which is behind the Nimbula cloud in services and security certifications. Ask your Oracle salespeople if the database service is HIPAA certified on Bare Metal. Ask your salespeople to provide a map of where Oracle cloud data centers are located. Ask if there is software-defined networking. As if IaaS virtual machines can have two network cards and therefore run Oracle Database RAC. Ask if there is a data center on the US west coast. Ask them why there are two clouds.
6) Without an adequate IaaS infrastructure, the new "Autonomous Database" service won't work either.
Excellent points by @PKFkLap-2cgc.