"the cloud isn't tech it's a rental company" is a pretty dumb take tbh.
Like, if you're trying to argue that AWS (or gcp, azure) services don't provide technical solutions that aren't available otherwise you just don't know what you're talking about. Is it expensive, yeah it definitely can be. But cloud is much more than server rentals at this point. Want a host that gives you bare metal? Great there are 'rentals' to choose from. I can see arguing SaaS hasn't really 'tech', but PasS and IaaS provide technology and solutions to problems. I hate Daddy Jeff as much as the next guy but AWS is very much 'tech'.
Depending on the nature of the work and security protocols it isn't the WTF. When you're working, on your work device, on the work network, there is zero assumption of privacy (and there really shouldn't be). The company wants to maintain it's security and so it is ensuring it is aware of things happening on its network.
It's not necessary for everyone everywhere but it has valid use case that isn't some mega shady weird thing.