Oracle Cloud isn't actually "terrible cloud", but it definitely isn't geared toward smaller users like startups and individuals. It's downright hostile to casual use. But for fortune 500 companies who don't mind being in bed with Oracle, the price can be right.
I posted a response from Gemini where I asked Gemini, "Do you have citations proving or disproving whether Oracle Cloud is still attracting cloud customers away from Azure, AWS and GCP?" and it seems it disagrees with your "nobody wants their terrible cloud" view.