These complaints mostly seem to come from folks who are spinning up lots of VMs and architecting solutions the same way they would build in a data center. If you're running VMs 24/7 of course it's going to be expensive.
This feels right to me. If you build with lambda, api gateway, and s3/dynamo a small business can stay pretty close to the free tier. Obviously this doesn’t work for every single application, but I’d bet there are a lot of VM applications that it would suit just fine.