My biggest concern about the article is that it doesn't prove its premise. In fact, the S3 service is only arbitrageable if all the other things you need to do

My biggest concern about the article is that it doesn't prove its premise. In fact, the S3 service is only arbitrageable if all the other things you need to do to build your proposed service are free, or less expensive (including opportunity cost) than the profits you generate by doing them. This is far from certain, because even with the infrastructure all built it's not clear to me that you could turn a profit when you factor in your running costs like CPU and RAM used to actually make the system function, much less the support staff.