They offer their POWER machines as AIX and IBM i environments, as well as IBM z as LinuxONE VMs (under KVM instead of z/VM) with encryption everywhere for the security paranoid.

I suppose a z15 LinuxONE cloud offering would be attractive for them to offer because of all the built in observability, and also because those cores can be ridiculously oversubscribed before anyone notices.

As for pricing, they wouldn't need to pay their margins unless they eat into their other segments.