I'm glad to read the comments from people disappointed with this announcement, because our Microsoft contacts always talk to us as if we were the weirdos who maintain their legacy infrastructures.
We have always been accused of being "progress deniers", so for years we have been testing Azure products (if there are any) that replace products as well-worked as Configuration Manager.
We always try to be "open-minded" and accept changes in our daily work, but our conclusion has always been that the loss of functionality is unacceptable. Who would think of telling a client to deploy software by scripts today when they have CM? How can we assume that version 1 of Update Manager can run pre and post scripts and version 2 cannot?
Not to mention other fronts, such as replacing SCOM with Log Analytics, or MIM with... nothing?
When I look at the products Microsoft is now selling on Azure, I think that a big company like Microsoft has lost its senior employees and the code they developed for such powerful products, and has started from scratch with junior developers and selling us substandard products at higher prices.