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You'd be surprised how far you can push the problem into the future. OVH will sell you a server with 512GB of RAM for under a K a month. You can easily go into the terabytes.

Hetzner PX92 with 256GB DDR4 is just $219/month.

Have you thought of installing slave DB servers to spread the reads?

Have you looked into why your slow queries are slow? Seems like indexes are missing, or your queries are unoptimized.

Curious about your staff's past experience with database migrations.

This makes me uncomfortable. Even though we have done some migrations (albeit of lower scale).

Please share pointers, if any.

Your comment says most of what is worth considering.

Gotcha