How this is different from getting dedicated server from any other provider? Typically you need to pay a bit more - $40-$50 but you get more RAM and cores.

And what it has to do with the "cloud"? Cloud means one use cloud-provided services - security, queue, managed database, etc. and that's their selling point. This exe.dev is a bare server where I can install what I want, this is fine, but this is not a cloud and, frankly speaking, nothing new.