The fact that MS buys its business to give the impression of keeping up with AWS is not a secret - they can afford to do so by rebalancing revenue from Office a

The fact that MS buys its business to give the impression of keeping up with AWS is not a secret - they can afford to do so by rebalancing revenue from Office and other cloud-adjacent productivity sales. GCP doesn't have that particular lever to pull, so is stuck with lower margins - accepting that ought to play out well for them in the long run if they drive prices down and become competitive that way, but Google has burned so much faith in its non-advertising products that you'd have to be a lunatic to adopt GCP as your first choice at this point.