This is a common problem with “bare metal saved us $000/mo” articles. Bare metal is cheaper than cloud by any measure, but the comparisons given tend to be misleadingly exaggerated as they don't compare like-for-like in terms of redundancy and support, and after considering those factors it can be a much closer result (sometimes down as far as familiarity and personal preference being more significant).
Of course unless you are paying extra for multi-region redundancy things like the recent us-east-1 outage will kill you, and that single point of failure might not really matter if there are several others throughout your systems anyway, as is sometimes the case.