If you're never planning on scaling past a hobby project, the free tier is a great place to stay. If your hobby project "goes viral," though, it might cost you a few thousand dollars, but hopefully that helps you get a lot more money to turn your hobby into a business.
If you have commercial intent, however, $50/month goes from an expensive hobby (3 streaming services) to a very cheap business. At that point, the fact that you don't have to pay for scale on DO VMs and other platforms actually makes a lot more sense. You can sleep at night knowing that you will still have a business even under a load spike, and $50 of digital Ocean buys you roughly the compute power of $1000+ of AWS managed services.