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State of the nation.
(blahaj.zone)
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I'm not sure I agree with moving from managed to unmanaged for RDS, unless you're very familiar with databases and keeping them online, RDS (and other managed DB providers) are honestly one of the places I recommend spending more on.
The rest of your points are spot on though.
Oh yeah, I agree it's not the right choice for everyone. There's a whole lot that can go wrong self managing DBs. Also, you're losing out on availability as RDS gives you two availability zones for redundancy. It's a trade off I think based on your experience, budget, and uptime requirements. Just spit balling, but I believe it would be something like a 20% cost reduction for the db hosting.
Looks like they've got experience managing databases and are getting off of RDS as a result 🎉