To some extent. I have seen tons of scenarios istio/loadbalancing/other managed services that cannot be easily reproducible without 'the cloud'. I would say it is much more portable.

I should have been bit more specific. I meant managed services like s3, dynamodb etc

s3 is pretty much defacto standardized api for object store... tons of others follow minio, digital ocean etc.

dynamodb despite being a heavily promoted product at aws is not really a staple, but a crutch since rdbms doesn't scale that well