Nope, that would make it a very stupid analogy.
But IBM is just a tiny shadow of their former glory, of almost complete dominance of business computers of any size.
According to the article Google/Alphabet is losing their leadership position too, in much the same way.
They have a stranglehold on enterprise computing after they ate redhat, and they still make insane mainframes, they've just left the consumer world (which makes sense given their name i guess)
I wouldn't go that far, there's been a mass exodus from Redhat and they're hardly the only game in town when it comes to mainframes. You do have a point though.
The mass exodus from RH has been massively overstated. It's mostly a bunch of Redditors and Lemmings saying "omg I'll never use RHEL now, even though I never have", but in reality, they've not seen an exodus.
I do think their actions have a good chance of causing damage in the long term, though.
How did that work out? We used sles in the past (moved to rhel6). Management of larger environments has been easier with rhel, but we've slowly been decoupling from redhat-isms. Satellite is just doing drm -the only thing that gives us grief- and repos now.