For us (and I'm guessing for many VC funded companies), SAAS managed IAC is a nice to have, but certainly not a MUST-have and certainly not something in the same "willing to spend money range" as your monitoring or your main cloud hosting costs.
I see these kind of tools as a tier below your monitoring tools like DataDog/Splunk etc. And these tools are a tier below your AWS/GCP costs. If your IAC or CI costs are approaching or overtaking your monitoring costs, something weird is afoot. Likewise, if your Datadog costs are approaching your AWS bill, this is obviously wrong.
Hashicorp, in my opinion, thinks their tool is more mission-critical and more of a value-add than in reality it actually is, and I think they also don't understand that in the current high interest rate environment, companies are FAR more willing to put in engineering time to do migrations or money saving projects. My own company put in 100s of hours of Engineering time to reduce the Datadog bill by roughly 40-50%.