Sure, it's in some sense "an AWS competitor" but something like a billion times less efficient, measured by throughput, energy efficiency, or cost. So, in practice, no it's not.
I think Ethereum is going big places, but the AWS ledger solution is probably also going to be good for smaller industries where competitors don't trust each other, they want a database that's shared, and they all might trust Amazon enough to control it (eg if they're all using AWS anyway)
This has been possible since the 80’s due to public key encryption.
It’s not having to trust a central actor that’s the innovation behind e.g. Bitcoin.
To put it another way, the problems that Ethereum will solve are not ones that could be solved by AWS.
Despite both being energy/transport companies, Embraer and Tesla are solving two very different consumer problems.