I guess the same was said about those non-mainframe kids 30 years ago. Tech gets cheaper and better. You can rent CPU time instead of buying a server. It is just that simple.
And overpay in orders of magnitude on a 5 year depreciation schedule. And the amount of fun you are going to have getting charged for the S3 API calls and pulling that data out of S3 for processing would make anyone reasonable CFO head spin 360 degrees every minute.