SAP's stated approach for new implementations is to "lead with cloud", and this makes sense as it has the lowest implementation cost and gives access to rapid innovation cycles. It is true that we are making a lot of investments in the cloud, but where possible we make these solutions available to on-Prem users as well.
For example on-prem SRM sourcing users now have the ability to post RFQs and receive responses on the Ariba network, getting access to all of the 1.2m suppliers who are ready. And on-prem SRM users can send and receive orders, invoices, acknowledgements and shipping instructions).
In general we are moving lots of innovations away from "nodes" and to the Business Network, so it is available to both Cloud Procurement and On-Prem SRM customers.