Cloud providers have to buy new hardware too to grow and to replace failing/obsolete units. They will have to raise their prices sooner or later too.
They can negotiate better prices based on their scale, and even on their ability to internally source key components if needed.
E.g. if AWS/Microsoft/Google/Apple buy 80% of Micron's entire output it's probably at a much better price than the rest of us competing over the other 20% are going to get.
Even just going to second tier cloud providers will tend to let you rent similar capacity much cheaper.
AWS and the other big cloud providers only gets close to cost efficient when you're big enough to negotiate prices that are nowhere near their public list prices.
And by which time you are spending an ungodly amount of money per month !
Which is why second tier providers are the way to go.
You get better prices. Much clearer price models. Better customer service....
... And all without having to commit to spending more than the GDP of a small country every month on your cloud bill.
A global supply chain storage is a global supply chain shortage.
Most famous recent example being Apple who were absorbing the rapidly increasing cost of supply until even they had to put up the prices to reflect procurement and manufacturing reality.
And this is Apple. The company that even buys its manufacturers plant equipment in return for it being dedicated to Apple.
Yes the big boys get volume discount. But that doesn't magically entitle them to last decades's pricing.
You’re trying to refute an argument I did not make.
They do not have to be cheaper than 2016. They have to be cheaper than what your business could otherwise string together paying current market prices. And they will be.