There seems to be two groups of people:
People that use services like AWS and pay hundreds (or more) per month: “Wow, hosting is so expensive now!”
People that host a bunch of stuff on a $40/year VPS: “Wow, hosting is so cheap now!”
I’ve got several VPSes with 40Gbps (shared) networking, 8 or 16GB RAM, decent amount of space on RAIDed enterprise NVMe SSDs, fast AMD EPYC CPUs, that cost less than $60/year. 20 years ago before VPS hosting became popular, you’d need to pay at least $100/month for a dedicated server with a consumer CPU, single IDE hard drive, tiny amount of RAM, on a 100Mb/s connection.
Not to mention being able to host a bunch of stuff at home for cheap with a low-power single-board or mini PC., and Hetzner making dedicated servers very cheap too.