This is totally true, but at the same time, given the success and scale of AWS, it's insane that they would not have the resources they need.
My gripe with EBS is that hiccups in EBS cause my Linux instances to "lock up", consume 100% CPU and become unresponsive. AMZN is providing their own Linux distribution and drivers for the EBS devices so they can also attack this problem by patching the Linux kernel.
I'd compile my own web server stack, but it's as good a foundation to build on as any Linux distribution.