I think many folks confuse normalization as a strategy with the underlying database technologies. Oracle and other RDMBS technologies can create normalized databases too. In the end it's a design judgment. There is a lot of room between fully normalized and one-big-table. Even firms that logically map things out fully normalized frequently decide that for some things that doesn't make sense.

Taking a step back, there are still reasons to abandon Oracle. It may not scale up, or be good for certain time series calculations, but that's another story entirely.