I had my fair share of Hyperscaler -> $something_else migrations during the past year. I agree, especially with rented hardware the price-difference is kind of ridiculous.

The issue is though, that you loose the managed part of the whole Cloud promise. For ephemeral services this not a big deal, but for persistent stuff like databases where you would like to have your data safe this is kind of an issue because it shifts additional effort (and therefore cost) into your operations team.

For smaller setups (attention shameless self-promotion incoming) I am currently working on https://pellepelster.github.io/solidblocks/cloud/index.html which allows to deploy managed services to the Hetzner Cloud from a Docker-Compose like definition. E.g. a PostgreSQL database with automatic backup and disaster recovery.