How much of that egress traffic would be saved by using a CDN?
Can you please explain how would this reduce cost? 1TB of egress on EC2 is $90 and on CloudFront is $85. Or are you suggesting to use something like BunnyCDN with $5/TB instead of AWS services?
I could hire four system administrators for that money to look after each of my four dedicated servers full time.
On top of that you first need to learn AWS. That thing is complicated - but I can set up a dedicated server in minutes because it's indistinguishable from my development environment.
I joke that dedicated servers are only expensive if your time and money are worthless. Because AWS is going to eat both.