These guys don't get it, really.
It's kind of like the High Street situation in the UK: we're told that its internet sales that are turning many a UK High Street/Town Centre into a commercial waste lands, as shops and other supporting businesses have failed to adapt to this new reality of the net...
On the other hand, it could be that central government set business rates and no realistic energy policy (except tax-laden it) and other resulting on-costs are too high to run sustainable, employment-giving businesses.
The truth is likely to be a mix of these two scenarios.
I see IBM in the same way: failed to change it methods and quite long-in-the-tooth products (i Series? Still?) enough to be an 'attractive proposition' whilst still expecting to charge a premium. The meantime, many other vendors have figured out the market and the price its willing to pay, offering products and services to suit...