You buy the physical rack and install it in your data centre. It is your property.

importantly, you don't pay for it as a service, you buy it and it's yours. like buying a cloud in a box, instead of having to build it yourself with various server, storage, networking, and software vendors it all comes ready to use.

I don't know how it works for Oxide, but this isn't a new concept, IBM has been doing it since the 1950s. Own the mainframe, pay for the required service contract.

What led you to believe that this is a SaaS offering? It's not.