Pretty much. If you’re spending $1000/month on servers, you’d only save < $200/month and the added complexity probably isn’t worth it. If you’re spending $100000/month on servers, saving ~$20000/month is probably worth it. Where is the tipping point between those two numbers? Depends on context.

Rewriting in a more efficient language might seem even cheaper, but you have to factor in risk and opportunity cost. At some point it does become smarter to rewrite, but your app needs to be pretty simple or your server bill pretty huge before it’s actually the best option.