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I feel like serverless is only benefitial for low volume / low traffic workloads.

The only other perk I've found is that the serverless billing model makes it easier to estimate costs.

I found it lowered our server cost incredibly for a high volume read heavy site. It allowed us to scale in response to increased traffic (not instantly that's a lie, spikes in the thousands of requests a second are not handled well, but over a few minutes it catches up without issue) and not have to provision and spin up servers. We were constantly over provisioned before and now it's a much lower but moving margin.

You can do that today though with K8s and auto-scaling. Not sure how well autoscaling works on AWS, but on GCP its a breeze.

Well, yes. This is why we are building a solution that you can install anywhere https://github.com/1backend/1backend

You might jokingly say we are reintroducing the servers into the serverless concept :D

But I think we are just giving freedom back to the users.

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