Ideally of course they should be able to meet a fairly wide number of downstream eyeball ISPs at the major IX points in the bay area and offload a lot of traffic with settlement-free peering.
60Gbps outbound from AWS, Azure or GCP would be astronomically incredibly expensive.
It's been a huge blessing for a whole generation of startups to have a radically well-connected space that just about anyone can drop in equipment at multi-gig unmetered (albeit admittedly extremely constrained on power and cooling). It is honestly a part of what has made Silicon Valley great. Well, that and being able to cobble together a few replacement servers from Fry's components (RIP!) or schlep out to some ex-CTO's Sunnyvale garage in the middle of the night to offload some lightly used VA Linux 1U's...
Even today, you can get 15A and a 42U cabinet to call your own with unmetered gigabit for $400/mo - and probably less if you ask nicely.
Because of budget we tend to use things up 100% before putting more in.
And it is not only a cost comparison. You need different kind of people to manage in-house vs cloud, not that you need less or more, just different skills
That's not to say that it wouldn't be incredibly expensive, but probably far less than what you see on the pricing page.