Here is an experiment - tell your employer you will be hosting on (insert no-name provider here), to same a literal million dollars, and see if you can get security team to sign off on it.
Here is another experiment - reach out to he security team, and tell them AWS costs are too high, ask them which providers they will be ready and willing to sign off. My guess is it will not be a big list beyond AWS/Azure/GCP.
So the market is not competitive at all, most of us cannot switch providers even if the alternative would be 100x better.
PS: I am not saying security team are assholes, I am pointing out a major barrier to competition.