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Is it? $40 a month gets you a pretty beefy dedicated server.

EDIT: (I can't reply for a bit) Quick glance at https://www.hetzner.com/sb/ seems to suggest 64GB RAM and a full Intel i7.

Define "pretty beefy", because in my research $40 will only get you something like 8 vCPU and 16GB RAM.

for €48.75 you can get 12vCPU/64GB

But 8/16 is $95+ on AWS.

What kind of IO?

That's where they get you.