If you're at a point of spending $1.6M to transition objects from one class to another and spending millions per month in storage costs -- you need to have a real conversation about if storing your data in a vendor-locked cloud is the right path forward. S3 isn't the only option, MinIO + dense storage is one viable option if your spend is high enough to justify running MinIO. Backblaze is another.

List price of Backblaze:

$0.005/GB - Base Storage

$0.01/GB - Egress (Use a data partner to bring this down to $0)

$0 - PUT API Requests

$0.004/10,000 - GET API Requests

No delete penalties a/k/a minimum storage

List price of Glacier Instant Retrieval:

$0.004/GB - Base Storage

$0.09/GB - Egress

$0.02/1,000 - PUT API Requests

$0.01/1,000 - GET API Requests

Billed for 90 days of storage