It is $0.05 per VPN Connection-hour. But in this context what is a "VPN connection?" Do you literally just set up your cloud for "free" (aside from paying for instances, etc) and then only pay $0.05 for every hour you spend connected to the private cloud externally?
Does the VPC have any external visibility aside from the VPN connections? And if it does, what is stopping you just setting up your own VPN server and bypassing the $0.05/hour rate?