Deployments like bedrock have no where near SOTA operational efficiency, 1-2 OOM behind. The hardware is much closer, but pipeline, schedule, cache, recomposition, routing etc optimizations blow naive end to end architectures out of the water.
And Microsoft's Azure. It's on all 3 major cloud providers. Which tells me, they can make profit from these cloud providers without having to pay for any hardware. They just take a small enough cut.