hardware provides so much headroom that it's not even funny to compare :) a good PCIE board will do 850K IOPS for reads for 10K (4TB). You can have a sane understandable setup. In our experience our clients on AWS had more downtime than on dedicated clusters. All major outages of public clouds have being due to control plane issues because it's too complex. Unless you are a major customer have fun trying to get things resolved with the cloud provider. At gitlub scale they would need 4 ops guys and some remote hands for hardware installs considering cloud pricing on bandwidth and storage and the cost of the ops team (+/- 24K month in Ukraine tops) they will not only get much better performance but will actually save decent amount of money.