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I've done the on prem design. I've migrated people entirely to the cloud. I specialize a little in between.
Without any shred of doubt the cloud is going to be more cost effective than self hosting for 99% of all use cases. They're priced that way intentionally. You cannot compete with Cloudflare/AWS/GCP/Vultr/Akami/Digital Ocean/etc.
My homelab isn't about scaling, production workloads and definitely isn't accessible to anyone but me. I'd argue using it in any other way defeats the purpose and shows a lack of understanding.
The cloud is cheaper hosting things like websites that need HA. However if you are doing big compute or storing lots of data it will not be cheaper.
If you're doing actual big compute its cheaper in the cloud. Considerably. It's also very easy and cheap to store lots of data. You will never be able to compete with their price for storage so I have no idea why you think that would be true.
It is very much not cheaper in the cloud assuming you already have a on prem data center. The hardware stays mostly loaded and unlike the cloud we don't pay for usage.
You don't pay for electricity or pay a fee for using the data center? You don't pay an engineer to do maintenance? You don't pay for your own alerting system? You don't pay for the network security tools? You don't pay for your subscription to Docker Hub? You don't pay for a second physical location you can swap to in an incident?
I do these migrations for a living. I know you're a liar. Cloud beats on prem everytime. You simply cannot compete with their economy of scale.
I'm not going to post details from my job if that's what you are asking. It is in fact much more pricy in some cases.
I'm not asking you to. Those are rhetorical. You either pay for them and are wrong about your costs or you don't pay for them and you're a hack, your software is a joke, and you don't belong in tech.
You're either lying or not knowledgeable on the topic enough to have an informed opinion.
Do you work in sales by chance?
Sr Architect. Lol.