Yeah, this is quite interesting indeed. However, currently I require a powerful machine in my day to day work. I considered renting a Hetzner machine as they are reasonably priced specs compared to AWS.
In my case right now it's my workstation back at the office, but yes, renting also is an option. Something expensive cloud-based could still make sense over a rented dedicated box if you always shut it down when not in use, but you need to run the math on that.