Even looking at comparative offerings from different providers, they're really lackluster [1], and in some cases, even more expensive [2].

What could be contributing to those large numbers?

[1] - Memorystore only allows vertical scaling, no support for GCP managed Redis clusters, no hybrid functionality (only instances in the same VPC network can access Memorystore, whereas ElastiCache offers all of this.

https://cloud.google.com/memorystore/docs/redis/networking https://cloud.google.com/memorystore/docs/redis/scaling-inst...

https://docs.aws.amazon.com/AmazonElastiCache/latest/red-ug/... https://docs.aws.amazon.com/AmazonElastiCache/latest/red-ug/...

[2] - https://cloud.google.com/memorystore/ vs. https://aws.amazon.com/elasticache/pricing/