Somehow... with the Google product price changes (price hikes!) in maps and app engine, I am not sure if they have enough credibility left to pull this off.
That said, it was definitely painful, particularly for people that had optimized specifically for the pricing quirks of the old AppEngine pricing model and really got hurt by the new model.
People assume cloud servers are a commodity, but at $150'000+ company cost per software engineer, there's a lot of API and development that is happening to support the initial roll-out of cloud infrastructure, and we're not yet at the stage where such development costs are negligible compared to the total costs (Amazon is getting there, Google is just starting out...).