AWS, when used in certain ways is very cost effective. Their S3 storage very inexpensive and very fast. The Glacier archive is even cheaper, but access is delayed. Lambda compute is also exceedingly cheap. I have 16 domains hosted and several apps. Everything (yes, domain reg to compute to data storage to reporting, everything) is under $25 per month, except support. I do pay the $29.95 for some of the best 48 hour email support I’ve ever had (George is faster 
).
BUT, note the drawbacks, but there’s a lot of plus’s too. 