Companies and investors prefer SaaS because it solves their requirements, including: cheap support with no legacy installations, and the ability to move the product in new directions very quickly. This often doesn't overlap with what all customers of a piece of software want.
SaaS software often hits a sweet spot for one set of customers and then it is updated to match the needs of a new set of customers. Conflict can arise and the first set of customers abandon the product or are unhappy. When customers can deploy the software themselves they can decide to stay on the old version.
Of course this is often a terrible decision because customers get stuck on the really old version, experience security issues etc., but when it is managed appropriately (i.e. just strategic software for a business) it can work out. Managing lots of individual packages is a cottage industry for IT teams in big companies so they often undermine efforts to do this right.
SaaS software often hits a sweet spot for one set of customers and then it is updated to match the needs of a new set of customers. Conflict can arise and the first set of customers abandon the product or are unhappy. When customers can deploy the software themselves they can decide to stay on the old version.
Of course this is often a terrible decision because customers get stuck on the really old version, experience security issues etc., but when it is managed appropriately (i.e. just strategic software for a business) it can work out. Managing lots of individual packages is a cottage industry for IT teams in big companies so they often undermine efforts to do this right.