We have our own spare capacity product called preemptible VMs (cloud.google.com/preemptible-vms) with a similar discount and no need for bidding (Disclaimer: I worked on it). Also, we don't have reserved instances because our sustained use discounts, per-minute billing and continued year-on-year price drops make more sense than any of the RI combos (1 yr is worse than our pricing with sustained use, 3 years locks you out of price drops).
As to load balancing, I assume the poster is referring to the need to "pre-warm" ELB if you actually want to scale while our Maglev based load balancing goes from 0 to 1M qps within a minute.
Finally, EBS with provisioned IOPS is a good product! But so is PD-SSD, and you don't need to be a storage expert to get the best performance.
As others have pointed out, we've made a lot of progress in the last couple of years. Give us a closer look!
Disclosure: I work on Compute Engine.