Most people don't need to scale to a billion users overnight.
https://www.thomas-krenn.com/en/wiki/Processor_P-states_and_...
Which is an implementation of:
And what's a workday anyway, surely you operate globally?
The main application I run operates in 7 countries globally, but the US is the only one that has enough usage to require additional capacity during the workday. So out of 720 hours in a 30 day month, cloud scaling allows me to pay for additional capacity for only the (roughly) 160 hours that it's actually needed. It's a significant cost saver.
And because the scaling is based on actual metrics, it won't scale up on a holiday when nobody is using the application. More cost savings.
Obviously what I'm saying will not apply to all use cases, but I'm only talking about mine.