I don't know if you really understand Make. Even the original article misses point about what Make is really about in recommending `.PHONY` targets.
Make is about "making files." Or to be a little more semantically specific, Make is about "processes that transform files to make new files based upon their dependencies". It really doesn't matter that your file is a C source file, or some unpreprocessed CSS, or a template, or an AMI. To your AMI example, if you specify a dependency (or dependency chain, DAG) as a time-stamped (or set of) file, you can get make to rebuild the AME for you along with any other supporting or intermediate files.
IMO, the suckless guys are masters at writing deceptively complex but highly readable & concise Makefiles. Here's plan9 workalike utility library [0], a util-linux/busybox package of binaries [1], a window manager [2], a terminal emulator [3], and webkit2 based web browser [4]. I highly recommend you study them if you're looking to up your Make game.
[0] http://git.suckless.org/9base/tree/Makefile
[1] http://git.suckless.org/sbase/tree/Makefile
[2] http://git.suckless.org/dwm/tree/Makefile
[3] http://git.suckless.org/st/tree/Makefile
[4] http://git.suckless.org/surf/tree/Makefile