[direwolf20]

The terms of use of Lightsail say you can't use it in a way that's intended to reduce your costs over EC2. So they have more free bandwidth, but you're not allowed to intentionally send your traffic through Lightsail to avoid the extortion of EC2 bandwidth pricing. They have cheaper CPU, but you're not allowed to use 100% of your CPU.

[graemep]

Very much like a similarly priced VPS though. It lets me persuade people to use a VPS because it is from a familiar big brand. I have come across a lot of people who use EC2 (usually just a single instance) when a VPS would work fine for them.

You cannot use Lightsail to work around EC2 costs, but you can use Lightsail instead of using EC2.