Is Hetzner even interested in offering anything other than VPS? There are many companies in Europe that offer a much more cloudy/managed approach, like Scaleway or STACKIT. Hetzner has object storage now but nothing else really.
Hetzner has really important features than AWS/Azure/GCP do not have.
My favourite is simplicity. I can understand its Cloud offering in minutes, use it to its full potential within hours to solve business problems. Back when I worked for an AWS-based unicorn, AWS took lion's share of my time.
My second favourite is the ability to move resources between accounts. The effort my fellow colleagues spend now for such migrations is enormous, and they justify it by saying that even AWS can not do this without destroying/recreating resources and copying data.