Instead you can take k8s, deploy it to bare metal, and have a much much more power for a much lower cost. Of course this requires some technical knowledge, but the benefits are significant (lower costs, stable costs, no vendor lock-in, all the postgres extensions you want, response times halved, etc).
k8s smoothes over the vagaries of bare-metal very nicely.
If you'll excuse a quick plug for my work: We [1] offer a middle ground for this, whereby we do and manage all this for you. We take over all DevOps and infrastructure responsibility while also cutting spend by around 50%. (cloud hardware really is that expensive in comparison).
[1]: https://lithus.eu