I agree if we are operating a cat meme distribution business that AWS starts to look a bit overkill. Something like a banking consultancy is a different matter. Good luck passing due diligence as a bank's vendor when you are also physically responsible for the machines. You can do this, but it sucks and it's your entire job + overtime + on call.
AWS has a dedicated feature (artifact) that can serve as the foundation of your compliance package. If you are racking your own machines you get to start with a blank pile of forms.