But the margins are in the cloud stuff (email, iCloud, etc) right?

They just need to make an Apple version of SharePoint and Exchange, and wala.

Now you have a suitable stack for small and medium businesses with simple requirements, like most retail, small lawyers, small accountants, etc

I setup a small business recently and I was able to use a full Apple stack except for Exchange Online Plan 1 (email) and Mosyle (MDM). These are both tech that Apple has (iCloud Mail and Apple Business Manager), it’s just lacking a few critical features.

What's wala?