Factor them all in, and "the cloud" is 1000s to millions of times more expensive than bare metal. I've seen people pay $100k/month, for services which could run on an $140/month bare metal server failover pair.
Meanwhile, people still spend enormous resources managing "the cloud", writing code to deploy to the cloud, dealing with edge cases in the cloud.
There are no savings, time wise, management wise, or money wise, with the cloud.
You are paying for ignorance.
The costs were very clearly spelled out and always lower that SaaS.
Why do people here think that cloud companies are charities? The cost of their hardware leasing, personnel, electricity, building management, insurance... it is all paid by the customer.
Plus a beefy profit margin. All paid by you.