Bluemix is too little too late, and appears to be an advertisement for all the open-source 'cool' tech that IBM did not invent.
Let's not even get into the fraud that was the share-buyback (second only to Apple I believe). Now that's ended the tricky question of where that elusive revenue will come from looms its ugly head.
I'm pretty fucking scared about what a company in decline with an arsenal of patents like IBM's is going to do to hit its EPS targets in the next few years.