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That sounds insanely expensive. AWS S3 only makes sense if your workload is also in AWS. Using AWS S3 while having your compute elsewhere is a recipe for an insane egress bill.
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Dependa how you use it. If it's only for backups then it's fine.
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How much of your public facing workloads rely on S3 if I can ask?
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There's plenty of OSS drop-in replacements for S3.
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