You don't get the higher end machines on AWS unless you're a big guy. We have Epyc 9684X on-prem. Cannot match that at the price on AWS. That's just about making the choices. Most companies are not DB-primary.
The query times are incredible.
OTOH, as noted, EBS does not perform as well as native NVMe and is hilariously expensive if you try. And quite a few use cases are just fine on plain old NVMe.