Absolutely, my observation is in a way that "most workloads don't seem (to me) to be like that".

The number of servers serving interactive queries (frontends, rest api servers, databases, etc) seems (to me) to greatly outnumber the number of batch jobs, and I've always seen those intentionally "over" provisioning CPU because otherwise you get latency issues if load increases at all.

I don't actually know that cloud providers don't either have some clever way around this (e.g. spending spare CPU cycles on some other form of work), or that it isn't the typical usage pattern, but I strongly suspect it.