Some group of people on the S3 team likely have root access to the machines where your objects are stored. If you don't have encryption turned on...

You keep making factually incorrect statements. I'm not going to go into detail to refute them, because I don't feel comfortable sharing internal design details and security mechanisms, but your comfort in confidently asserting falsehoods is disconcerting, to say the least.

If you work in AWS security, then you of all people know about the litany of service teams who don't meet their security goals every year.

I find it funny that none of the people here arguing really understand what data is important from a strategic sales point from view and what's not. The customers databases and other crap they store on the cloud. Not really important.

The raw billing information, oh motherfucking yes.

Agree. The billing data gets explicitly or implicitly discussed when various orgs talk about their successes, annual planning etc.