I use 500GB - 1TB per month on Cloudfront, costing about $50-100 per month, and I was going to move this over to Cloudflare to take advantage of their savings. However, this AWS change will basically wipe out my entire Cloudfront bill. I should send Cloudflare a Christmas card to say thanks.
Just because it isn't as good doesn't mean it's not a direct answer. This is basically the lowest hanging fruit response AWS can give against Cloudflare to convince people not to migrate over.
Maybe the idea is that if you're doing 1+ TB of CloudFront traffic, you're already deeply locked into AWS anyways and less willing to make the jump anyways.
The cost savings is equivalent to ~$9/mo in standard US regions. Nobody is going to migrate clouds over a $9/mo saving.
If we're talking about CloudFront that comes out to $85. That's actually a pretty good savings, but it's distinct from egress. CloudFront's pricing isn't locking customers in due to egress pricing because it's a CDN, not a data storage service.
A partial direct answer that's still less free egress than almost every other free tier and/or sub $5/VPS. And as far as I can tell, the egregious pricing is still there once you're past the free limit.