Now that GAE starts charging by instance-hours, however they are calculated, the drive to optimize is significantly reduced: I no longer have to worry about a web app's CPU usage if I have to wait for I/O anyway.
Some will say that's how we, as developers, should allocate our time to improve productivity, but the cloud platform as a whole just becomes a lot more wasteful.
And this change makes GAE much less appealing than AWS. If I'm gonna pay for instance-hours anyway, why not just launch some EC2 instances and kill them when I don't need them anymore? Sure it comes with admin costs, but at least I can migrate to another cloud provider much easier. Judging from the comments on this thread, migrating away from GAE seems very expensive, if possible at all.