ARM is cheaper and the performance hit is smaller than the savings. For scalable workloads you can easily just run more ARM and save money. Also, a lot (lot) of workloads are memory or I/O bound so the performance hit is negligible. ARM has gotten pretty optimized in both the CPU architecture and the tooling thanks to mobile uses.
What AWS offers and what Google offers are not even close: on AWS, our workloads actually perform better (as in, higher QPS/core, resulting in fewer pods/instances), in addition to being more cost effective (both in terms of per-instance price to begging with, and less instances in total, due to aforementioned higher QPS/core serving same amount of total requests). For the limited ARM offer from Google we tested, the performance is worse than equivalent x86 instances, in addition to no price incentives.
> with the characteristics of the processor architecture nor with processor performance.
Why did AMD introduce Genoa and Intel is developing equivalent products too? There is market for CPUs with a very high number of low-powers cores and it seems ARM had an advantage there. Even now the price per core (which are good enough for many applications) for Ampere/Gravitron cores is significantly lower.
It's pretty funny.