But, to answer your question, AWS does constitute lock-in and migrating away from AWS is a major pain. However, companies from big to small see this as a price worth paying for the flexibility of AWS.
That said, I don't think it's the only viable kid on the block any more. The competition, e.g. Google, is getting to the point where choosing AWS is no longer an automatic and should be weighed carefully. This is where the downside of lock-in starts to factor in.
Are you worried about vendor lock in with your power company?
P.S. As we're both in the same region of California, we're both with PG&E and can't do anything about it. It's kind of okay because they're so regulated, but how do you know we're getting a good price per kWh?
Disclosure: I work on Google Cloud (and met jedberg in person once).
As for comparing power utilities to public cloud, I don't think the two are remotely comparable within our timeframes -- utilities are highly regulated and provide an almost entirely undifferentiated service. Public clouds are the opposite, and that's why you want to be mindful of developing your codebase to an API you pay rent for.
And comparing Amazon to heavily regulated power company does't make sense.
Vendor lock-in is a well understood anti-pattern. I don't think I'm required to defend it.
> Are you worried about vendor lock in with your power company?
... yes? You aren't?
When Google App engine came out it was a big concern but now it's hip.