Comment by saulpw
Computing power (compute, memory, storage) has increased 100x or more since 2005, but AWS prices are not proportionally cheaper. So where you were getting a reasonable value in ~2012, that value is no longer reasonable, and by an increasing margin.
This is the big one.
In 2006 when the first EC2 instances showed up they were on par with an ok laptop and would take 24 months to pay enough in rent to cover the cost of hardware.
Today the smallest instance is a joke and the medium instances are the size of a 5 year old phone. It takes between 3 to 6 months to pay enough in rent to cover the cost of the hardware.
What was a great deal in 2006 is a terrible one today.