Vimeo is not an appropriate solution for the use cases that I have in mind. I don't think Vimeo would be fine with serving dozens of TBs of traffic for you, or storing many TBs of video content. Vimeo is aimed at professionals and companies who use video as basically a marketing tool, or communication tool, or who produce very little but very high quality video that may be shown to lots or few people. But it's not meant to be something like a platform for you to build something like your own Vimeo/Youtube, where your users upload (lots of) video and also consume lots of it. Case in point: Their "business" offering website speaks about a total of 5 TB of max video storage that you get, and you get tools from Vimeo to manage that video manually. But if you're building a video platform then you need APIs first and foremost, as well as basically unlimited video storage, ie. pay by use or similar.

But if you still want to compare apples and oranges here -- yes, cheaper, or at least comparable in price, just aimed at a different (much larger scale) use case.