Is outsourcing initiative directed to capture maximum value without assuming ownership for its costs & risks?

I happened to read the ITIL V3 publications on Service Strategy recently. A really well-defined article and came across this very interesting quote that client wants to capture value by passing on the ownership of costs and risks of deriving the value. The focus of due-diligence hence is to evaluate the degree of ownership in assuming the risks and costs for delivering the value for the service provider.

I thought that the former argument was carrying the idea too far, while the latter was too shallow a definition of due-diligence.

This is why I say so:

clients always carry risk of outsourcing critical functions and pay a price to a service provider for acquiring the value of it as well. No matter the degree to which the functions are outsourced. There may be several ways in which the client may protect himself from the costs and the impacts of risks through stringent contracts, SLAs and so on but still carries the risk of loosing the utility and gaining the warranty.

On the topic of due-diligence is too superficial and here is why I say so:

The due-diligence exercise intends to firm up the service offer to a client by not only assessing the risks and costs but also the validating the assumptions, clarifying the issues and firming the scope of work.

Any agreements/disagreements/PoVs....