AWS have found the ideal captive market: computer engineers who don't know how computers work or how much they should cost.

Whatever AWS is selling you - except Deep Archive - I'll figure out a way to sell you for half that price, if you want, and it'll still be 80% profit for me. Your only downside will be that I don't know what I'm doing so it might not be reliable - but neither is AWS.

Not just AWS. IIRC, GCS and ABS are slightly cheaper for storage but more for egress. To be fair to them, their reliability is pretty much second-to-none, whereas many of those at the very cheap end pretty much just ran a Ceph/RADOS cluster and then wondered why they were having lots of problems with reliability -- but with things like RustFS becoming more and more popular, the object storage racket is long overdue a shake-up!