Developer pockets $2M in savings from going cloud-free
theregister.com
theregister.com
If all you need is simple compute and bandwidth, and you can spare the resources to admin a server, of course you'll be able to find colocated, dedicated-server or even VPS solutions that fit your requirements and are way cheaper than AWS/Azure/GCS/etc.
The whole selling point of 'cloud' is that you can scale infinitely at a moment's notice and have a whole array of batteries-included services at your disposal. Don't need that? Don't do it, even if it's fashionable...
I've seen products developed with such small teams, there's no way you'd ever be able to be that nimble on-prem.
I've also seen cloud spend and governance spin wildly out of control, because teams knew they had to get to the cloud, but weren't sure why.
Similarly - there's value in the articles like "Actually, monoliths are fine".
Adopt the practices which fit your business requirements the best.