I challenge you to build enterprise grade hardware, run it hard and have a hardware failure rate of ~1% a year.
Not that hard...
The answer is no. People do these calculations before moving stacks. The cloud is where VC money goes to pad Amazon's bottom line. AWS is insanely overpriced if you actually sit down and do the numbers. I'm our company's part time sysadmin on a bunch of bare metal servers, I spend maybe 1-2 hours total per month kicking things/filing hardware replacement tickets/etc.
I don't understand this mindset against learning the entire stack. You should understand hardware, network and OS. Maybe I'm too old.