It's an "opinion" - the fact is, this is a legacy industry with margins under so much pressure that in many cases it makes no sense to pursue many of the deals we currently get engaged in.
It's Econ 101: our industry's extra high margins of the 80s and 90s started attracting new players, the field saw entries of Indian Pure Players in the 2000s, the competition (coupled with drop in delivery prices, better tools, knowledge accumulation, process improvement) brought margins down. We are about to reach an equilibrium and many players will leave the industry (fold, merge, divest, etc.). In short, there is no more money in this game...
The executives reacted poorly as they were getting ready for this, M&A was mistimed and misdirected, we simply did not adapt. As of now, Accenture seems to be the only player that still keeps head above the water, it's a long story though and they will have more challenges to overcome. It's game over for IBM, we'll see 20 more quarters of dropping sales and there will be major structural and org shifts (both internally and externally).
I wish I had a better and more positive outlook here but I have to sum it up as this: we are completely f---ed.