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Their primary storage medium is block storage which is quite expensive. Codeberg cited it, although post-hoc, in their decision to ban AI projects. GitLab runs (or ran) the large block storage based Git service I know of which is Gitaly.

If you want to achieve public service level traffic and cost then you pretty much need to find a way to leverage object storage.

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Note that this assumes cloud-based. A rack full of hard drives is far cheaper per GB than either, even at 50% utilisation and 2x redundancy. (It would have to be! Amazon obviously wants to make a profit)
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See Cursor's recent blog post on launching a Github competitor, particularly the architectural history.
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Right...check the vibe coded slob pile for reference...
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That’s a great blog post, lots of details, helpful animations, historical context, and an interspersing of war stories.

https://cursor.com/blog/git-at-any-scale

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