For on prem. Or you put it in a colo, and let someone else deal with those things, and you still pretty much the same cost savings vs. cloud - sometimes more (e.g. if you can pick a colo somewhere with cheaper electricity you can save; if you can pick one somewhere with cheaper land, you can save). Or you move to managed hosting and still bare metal, and stop worrying about the physical servers at all, at loss of some freedom, and still get around 90% of the cost savings vs. cloud.