pretty sure it's the latter. Even if there is minimal human effort on part of OVH involved that probably leads to unprofitability. For example a RAM stick breaks and has to be switched out, I guess it takes a systems engineer in the NOC at least 30 minutes to locate the server, disconnect it, replace the stick, mount the server again, make sure it is running fine. Assuming that employee get's paid 20 GBP, that is a 10 pound cost plus replacement RAM which is...I dont know...let's say 20 GBP, recouping that kind of money would take about a year (I know very dirty napkin calculations).
I bet they have a handful of these gimmick servers and they are going to sell out very soon. Comparable to the Raspberry Pi colocation edis offers ( http://www.edis.at/en/server/colocation/austria/raspberrypi/ ) try to order and you will find that they are sold out.