Or, in case their virtual servers suck (which I don't know about), running VM hosts on Hetzner servers as a service.
Regarding their virtual servers: They're great, don't get me wrong! But it's a tiny piece in the puzzle that is AWS, starting from things like VPC/Security Groups to managed services like load balancers, gateways, cross-DC availability, etc. And that's just the EC2 part.
To give an anecdote regarding Hetzner and them building out an S3 clone: I once asked support if there was a way for me to upgrade the 10TB max object storage solution (Hetzner StorageBox) to more than that since I had outgrown it. Simple reply: No, but you can spin up multiple storage boxes...
EDIT: I guess DO, Linode, ... are closer equivalents to Hetzner?