No, I can assure you that Linode, OVH, DO are making money per G at 1TB per $5.
Cloud providers are expensive because they want vendor lock in. They want to make it artificially cheaper to use their own services (elasticsearch, etc) over something else. And they want a high switchover cost when you want to transfer all of your data to another provider.
Cloud providers are expensive because they want vendor lock in. They want to make it artificially cheaper to use their own services (elasticsearch, etc) over something else. And they want a high switchover cost when you want to transfer all of your data to another provider.