Yeh but a pragmatic decision like a $40pcm box won't go down well with your now very bored team of SREs, DevOps and distributed systems engineers(tm) who demand more playtime with the magic cloud toybox (for a 100DAU internal app).
Good ol' bare metal is real nice, but it won't save you from application complexity, security requirements, and so on - you still need to manage it somewhat. If you're not a startup looking for market fit at least.
There's also middle ground in the form of Digital ocean's kubernetes which runs noticeably cheaper than big tech cloud offerings.