Who in their right mind would trust HP as a cloud provider? Three CEO's in the past year. Each one completely different from the last. Can any customer have confidence that the HP cloud strategy will A) last beyond the current CEO and B) be better implemented than other recent product strategies?
HP never burn their customers, especially enterprise customers. Even if they got out of the hardware business I'd have a lot of confidence that all my HP hardware would continue to be supported (after all - who ever bought that business is liable for support, and is really buying the business for the existing business relationships)
I might be unpopular for saying it, but WebOS was never a great fit for HP, and they did the right thing to kill it before they ended up in a situation where they had to support an unpopular platform. Maybe they should have spun it off, but keeping it as a HP platform didn't make sense.
No, for an (modern) HP offering "Cloud" is actually appropriate. Vague, nebulous, rarely seen up close. Never performs a lick of work, floats idly by. Occasionally crashes spectacularly. It's actually perfect branding.