The graph is for flash…not for HCI.
Solidfire is the basis for netapp HCI.
When netapp bought solidfire, it was not a smooth transition…lots of grumbling between the sales forces and initially poor direction was given on how/when/where to lead with solidfire vs legacy netapp solutions. If a company believes enough in the product they acquired, usually you see them stick with it and give it a bigger emphasis in both marketing and sales comp for their reps, and the ramp up occurs in 2nd and 3rd year.
EMC in similar situation as they already had a very broad portfolio and then dell bought them. Dell had equallogic and compellant and their own versions of hci plus they were and still are top resellers of nutanix. Dell now owns 80 percent of vmware so they lead with vsan and vxrail hci solutions. Add it all together, along witb still-fragmented sales forces (but improving) and you can see why they had trouble with their flash story.
HPE had a decade-long popular storage solution called EVA…and i remember when they bought 3Par that it was similar to solidfire acquisition…it took time for whole company to pivot behind 3par as the top storage solution in their portfolio. 3Par does all flash now. All these top vendors have all flash.
It is just that Pure, no pun intended, is a pure play for flash…it is what they are known for.
Your comment on not seeing the bigger forest view is what i was trying to say a couple weeks ago on this board: I think there is still room to run here, but Pure has limited TAM just because all these other companies can potentially undercut their pricing if needed. Why? Because DellEmc can sell the flash cheaper and make it up on maintenance contracts or dell servers or vxrail hci. HPE can go low on the flash in order to sell their new server infrastructure (Synergy) which they refer to as composable infrastructure. HPE can also still sell servers or simplivity hci or their nimble storage line.
Pure is just a piece. For new solutions, many clients will opt to deal with one vendor for the servers and storage and even the networking.
Cisco can offer ucs servers, networking and hyperflex hci and can also partner with netapp for storage or in their converged flexpod solution.
HPE can do servers, storage, and networking combined also. (A mix of aruba, legacy hpn, or can resell arista).
Dell can provide all that too, although their networking is a smaller unit today.
I took a small position in Pure for a few reasons: I do see room for more growth just by taking more of flash market, plus, like nutanix, they have stayed in business and now have more and more references to tout, and so likely have another big round of new atbats with enterprise clients that previously didnt want to gamble on them as a smaller upstart. Their reps have limited widgets to sell and there is about 25% more reps out there now. All those other vendors can hit their sales quotas with a more varied mix from larger portfolios.
I also like their hybrid cloud capabilities.
But I think they are in danger of getting too big to acquire and will also hit the netapp market cap ceiling eventually. Hopefully Cisco buys them, or maybe they merge with Arista…who knows.
I think they can double their sales in next 2-3 years and unless they have produced a new niche/widget by then, i probably tap out and sell.