If cloud is only expensive when done poorly and it's not easy to do properly, then that's actually a problem with cloud.
If managing cloud is skill-intensive and you need a hire a person/team with specific skills in it, then you're no different from on-prem from a personnel perspective.
And those are growing pains. In 5 years time, maybe the proper controls/cost containment will be easier because we've seen how easy it is to fuck it up.