The stuff IBM is doing on Quantum Computing is serious cutting-edge science and engineering for instance. The R&D they are doing on semiconductors on their 2nm and sub-2nm processes is also impressive and hardcore tech. They are doing a bunch of progress on post-quantum cryptography and homomorphic encryption. They've fallen behind now, but they were also quite strong on pre-LLM NLP for a couple of decades, it was not all fluff.
Yes they have an awful enterprise culture and they are not focused on building excellent products. But what they offer fits the needs of many organizations, and a lot of the things they are doing on R&D are no joke.
But they don't have production. How can they develop successfully without running silicon in a fab?
Ok, so does anyone remember 'Watson'? It was the chatgpt before chatgpt. they built it in house. Why didn't they compete with OpenAI like Google and Anthropic are doing, with in-house tools? They have a mature PowerPC (Power9+? now?)setup, lots of talent to make ML/LLMs work and lots of existing investment in datacenters and getting GPU-intense workloads going.
I don't disagree that this acquisition is good strategy, I'm just fascinated (Schadenfreude?) to witness the demise of confluent now. I think economists should study this, it might help avert larger problems.
I worked with IBMers. The main priority for a lot of them is to ensure continuous employment for themselves and their buddies. They'd add unnecessary complexity to a product to stretch out the development for another couple of years. And they work at leisure pace for tech. Actual 9 to 5, many coffee breaks. They can't compete.