This is certainly interesting, and is something I often wonder about. In our case we mostly run Kubernetes clusters on EX130 servers (Xeon, 24c, 256GB). In this situation there are a lot of processes running, for which increased cores-count and memory availability seems worth it. Particularly when we have the cost of 10-25g private networking for each server, lower node counts seems to come out being more economical.
But, but with fewer processes I can totally believe this works out to be the better option. Thank you for the write-up!