This is Oracle we’re talking about. The minute they get a significant foothold, prices are guaranteed to skyrocket.

I looked at traffic pricing (the most outrageous item among the big three cloud providers).

Outbound traffic from US/Europe is $0.0085 USD per GB. That's roughly an order of magnitude cheaper. Also, 10 TB free will be enough for many small use cases. The billing based on source instead of destination also makes the cost a bit more predictable.

That's just list price, of course, and it's still well above e.g. Hetzner, but it's a reasonable price.

Does anyone pay list price for AWS? Either you're small enough to avail of startup credits etc. or you're big enough to negotiate a personalised discount

If you know what you're doing, and knows a better part of the AWS services, the discount you'll get just by knowing what you're doing is probably bigger at that point.

Cloud native can go to either extreme cost wise, and it's very dependent on good engineering (which, unfortunately, is the exception not the norm).