As the headline is asking a question, the answer is No.

But to the article itself, it says "slowed growth", not "reversed growth and Microsoft/Google/Amazon are no longer able to operate data centers due to lack of money", SaaS is not dead by definition.

SaaS also would include M365. The most popular collaboration platform on Earth. That thing is a monster of cash flow.

All the large companies I deal with on a daily basis have moved everything to SaaS/cloud-based or in the planning stages.