At that scale, I care about integrity. Can someone working in this space please have a real integrity story as part of the offering? Give each object (object, version pair, perhaps) a cryptographic hash of the contents, and make that hash be part of the inventory. Allow the entire bucket to opt in to mandatory hashing. Let me ask the system to do a scrub in which it verifies those cryptographic hashes.
If this blows up metadata to 164 bytes per object, so be it. But the hash can probably get away with being stored with data, not metadata, as long as there is a mechanism to inventory those hashes. Keeping them in memory doesn’t seem necessary.
Even S3 has only desultory support for this. A lot of competitors have nothing of the sort.