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What’s the reason for doing that? Can’t you host a static page for 5 dollars basically everywhere?

Even on expensive AWS it’s 5 dollars: https://aws.amazon.com/lightsail/pricing/

lightsail is basically the lowest tier of AWS offerings. It's designed to compete with providers like linode or digitalocean, not gcp or azure. Moreover, lightsail is IaaS - you get a vps that you have to set up and administer yourself. Squarespace/Netlify is PaaS or SaaS - all that is handled for you. Maybe you think all of that isn't too hard and isn't worth the $14 or whatever premium, but it's still comparing apples to oranges.

Cloudflare pages has been excellent for my 11ty site. The free tier is great, prices after that are reasonable.

Also - there's a bunch of integrations with their other stuff (serverless, D1, etc.) You'll get more lock-in, but you can scale up the static site to become basically a full frontend-backend app from there.

Any reason to go that route over just making an S3 bucket publicly accessible and pointing dns at it? Should cost roughly $0/mo unless you’re getting massive amounts of traffic.