I think most companies have realized there is substantial value in terms of security maintenance, stability and the contractual obligations associated with SaaS vendors versus internal vibe-coded tools. Certainly there is a place for tailored internal tooling. But it isn't going to magically replace every use case that SaaS vendors are purpose built around solving, at least not anytime soon.

Convenience. Most companies aren't software companies and know this intimately. Even if they can build a prototype using LLMs, they now have to at a bare minimum hire someone who can maintain it (additional cost). Not to mention compliance with regulations. Far easier (and cheaper) to just pay someone else to make all of that their problem and extract the value from the product (even if it's not a perfect fit for their business).