Over-provision will still be cheaper than the cloud. Also, in my opinion the know-how and full control of the complete stack is paramount to maintain a quality

Over-provision will still be cheaper than the cloud. Also, in my opinion the know-how and full control of the complete stack is paramount to maintain a quality service. In addition, you can do both. Tying yourself to one provider is an unnecessary risk and tying yourself to the cloud is not ideal.