The only problem I have with Fly is that it is VC backed. It's receiving a lot of developer love now, but wonder what happens when it eventually gets acquired by a behemoth in a few years and the same fate as Heroku is bestowed upon it.
But I also don't think you can build a from-scratch cloud without VC money. It's very expensive.
Linode did it 20 years ago (somehow). Dunno if there's a more recent example though. :)