Many startups and companies couldn't exist if there was only AWS (or GCP / Azure) due to how much they overcharge.
For example, we couldn't offer free GeoIP downloads[0] if we were charged the outrageous $0.09 / GB, and the same is true for companies serving AI models or game assets.
But what makes me almost sick is how slow is the cloud. From network-attached disks to overcrowded CPUs, everything is so slooooow.
My experience is that the cloud is a good thing between 0-10,000 $ / month. But you should seriously consider renting bare-metal servers or owning your own after that. You can "over-provision" as much as you want when you get 10-20x (real numbers) the performance for 25% of the price.