You can also buy the hardware and hire an IT vendor to rack and help manage it as smart hands so you never need to visit the datacenter. With modern beefy hardware, even large web services only need a few racks so most orgs don't even to manage a large footprint.

Sure you have to schedule your own hardware repairs or updates but it also means you don't need to wrangle with the ridiculous cost-engineering, reserved instances, cloud product support issues or API deprecations, proprietary configuration languages, etc.

Bare metal is better for a lot of non-cost reasons too, as the article notes it's just easier/better to reason about the lower level primitives and you get more reliable and repeatable performance.