The incremental cost of being on a cloud is totally worth it to me to have managed databases, automatic snapshots, hosted load balancers, plug and play block storage etc.
I want to worry about whether our product is good, not about middle of the night hardware failures, spinning up a new server and having it not work right because there was no incentive to use configuration management with a single box, having a single runaway task cause OOM or full disk and break everything instead of just that task’s VM, fear of restarting a machine that has been up 1000 days etc.