Wishful thinking.
Low interest rates create a cheap capex environment for everyone and so don't skew the decision between inhouse and cloud.
If interest rates go up then the cost of capital goes up for everyone and so financing a new datacentre will get more expensive at the same time that cloud providers' cost bases rise.
More pertinently policymakers have pushed cheap credit so hard that we're addicted now and so rates aren't going to 5% any time soon. Enterprise hardware vendors and their vaunted salesforces will have had to change tack long before Amazon do.