So, without getting too into the specifics about SSPL because you and many of the critics of it I agree with in that it seems poorly thought out or too aggressive, I do think AGPL fails in some ways. Mongo and (I think) Elastic were both licensed under AGPL but made/changed to SSPL because of a perceived abuse by cloud services like Amazon. As for what exactly the cloud providers were doing that they perceived as wrong and what the best solution is I'm not too sure. It could be that Elastic's own managed version of its product wasn't getting any use because Amazon's was benefiting from economy of scale and vendor lock in ("hey, we already have everything on AWS, let's use AWS's Elastic offering") and if that's the case then it's not really a failing of software licenses and just a shitty and unfortunate situation.

One of the things libre software is trying to accomplish is letting anyone use it for anything and allowing competitors to monetize it is a valid use. It seems like Elastic and Mongo may have been trying to have a primary revenue stream be money from offering their own managed service and cloud providers were out competing with them. It's hard to not see this as them being a parasite that will take over the host and eventually kill them both because the devs of the product will stop getting compensation.

Some products (I think QT is another example) offer a GPL/AGPL version but for a fee will give you a more traditional license (non copy left) and this allows users to have a way to keep their own code closed source while providing revenue for the creators. Win win. AGPL was made to fix a loophole of putting a GPLed product behind a web interface and then saying "hey I'm not technically distributing anything so I don't have to release my source code." You'd think that most enterprise folks would pay but it seems like the cloud providers didn't need to because they found ways around AGPL or just didn't modify anything.

Like I said in another comment, no matter how you look at the situation, open source devs are getting taken advantage of. Enterprise customers should set the example and monetarily support the devs of open source software they use. While they do sometimes it's not the norm. Even within the same company you see mixed behaviors. Microsoft has been contributing code back to git and adding new features but also "stole" AppGet. They even interviewed the dev and asked specific questions about it. It's just scummy. It's a reminder that something being legal isn't automatically ethical or moral.