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It is a terrible term but in this case it's referring to the client application, not the database instance.

And what's your definition of serverless?

Something from peer to peer world for example (or postgres embedded in the same process perhaps)

The title made me think there's, uh, no server. So Postgres running locally on a client. I'm not being obtuse or something, it's a reasonable guess.

From what I can tell, you still need to think of it in terms of hardware, as the prices are based on instance sizes.

A true serverless solution, is for me something that takes care of this automatically by autoscaling / sharding. I should just have to point my database connection to an URL and it would not require any thoughts on my side. If I suddenly get a peek during Black Friday it should just handle it transparently.

At least there are cryptographic functions backing cryptocurrency. It's not _as_ inaccurate as "serverless".