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So we've had the same deal pushed towards us. It did take some questioning to really lay out the nitty gritty for what happens (as any sales conv shouod go) when but I didn't feel it was misrepresented.

We are currently rolling on pay as you go with them, and have successfully worked out what deals they'll offer when so we can sign if our traffic makes it make sense for that kind of commitment. We keep making our system more efficient and pushing that day away.

There are a few things that have less than impressed me with Snowflake, but having worked a bit with some of their competition I'm not bothered.