Provisioned: $0.00065 per WCU. One WCU is 1 write per second for an hour = 3600 writes. So 277 WCU is 1 million writes in an hour. Cost is $0.18 per million write requests. (If you reserve this for a year it's $0.08 per million write requests.)
We generally run our tables with autoscaling set to 70% of capacity, so at $0.18 per million write requests our effective cost is $0.25 per million write requests. A good deal cheaper than on demand.
We have a few tables where we run closer to 30% of target capacity because of hot shards. There our effective cost is $0.60 per million write requests, which is still cheaper than on demand (assuming on demand doesn't have the hot shard problem).
I'm having trouble understanding when this would be beneficial.
In some cases I've seen, autoscaling can manage going from ~500 to 10k WCU without heavy throttling (as the burst capacity can handle the five~ten minutes before autoscaling kicks in), but not with a smaller baseline. On tables with hot shards, the baseline usually has to be higher.
Probably also useful for multi-tenant apps like web analytics. One cannot possibly predict the workload.