I think it depends on your definition of infrastructure. Let me illustrate..

Core banking, batch processing, highly sensitive data stores? Probably not great candidates for public cloud consumption.

Web properties and services which don't rely on said functionality? Absolutely great candidates.

And the reality is, whether the IT guys like it or not, developers inside of these orgs are consuming cloud because getting a VM in a traditional sense takes forever (for good reason.)

As a result, we're seeing a shift in the industry where the idea of large corps / financial institutions / government are being pragmatic about the idea of a 'hybrid cloud.'

Banks are leery of the cloud for anything they do because even a basic web site can have sensitive (hackable) links to logins for account data. Healthcare companies have the same concerns around private health data.

I fully understand that, having worked in that world for the better part of the last decade.

The reality is, adoption of cloud in the enterprise is growing, not shrinking.

In Australia gov (state & Federal) is now "Cloud First".

Two, three years ago you'd be right. Rightly or wrongly more and more people are thinking differently about that. The CIA for instance.