Small nit, and this doesn't detract from your points. I don't think this is universally true by definition, even if it is almost always true. You could come up with some rare conditions where your traffic at t+5 minutes is actually easier to predict than at t+20 seconds. Of course, even in that case you're better off (ceteris paribus) being able to spin things up in 20 seconds.
[0] For example I can tell you exactly when spikes will happen to Netflix's servers on Saturday morning (because the kids all get up at the same time). And I can tell you there will be spikes on the hour during prime time as people shift from linear TV to streaming (or at least they did a lot more 10 years ago!). I can also tell you when spikes to Alexa will be because I already know what times peoples alarms are set for.
For example, things rarely start before they're scheduled, so if you know something is supposed to happen at 5 and last an hour, it's reasonable to assume it will be happening at 5:10, so if it's 4:59 right now, you're more certain that it will happen in 11 minutes than in one minute.
Of course, as time progresses your uncertainty curve flattens out (at 5:09 you're pretty certain it'll happen any moment now), but that's only in the future.
Even then, it's quite reasonable to say that there's no time leading up to the event where you're more confident it will start imminently than you're confident it will be occurring further out.
No shortcuts really, although a lot of web applications behave “kinda” similar.
Start conservatively and tweak from there.
This dang age everyone should use autoscaling. relying on ODCR (capacity reservations) for guaranteeing resources exist.
Are customers that are so cost sensitive served well by public clouds and attendant infrastructure?
They also do proactive scaling to address the issues you brought up, since they can predict with fairly high accuracy the normal viewing patterns.
For example scaling up on Saturday morning ahead of all the kids waking up.
But! Autoscaling serves two purposes. One is to address load spikes. The other is to reduce costs with scaling down. What this solution does is trade off some of the cost savings by prewarming the EBS volumes and then paying for them.
This feels like a reasonable tradeoff if you can justify the cost with better auto-scaling.
And if you're not autoscaling, it's still worth the cost if the trade off is having your engineers wait around for instance boots.