From S3 to R2: An economic opportunity

Is there any reason to not use R2 over a competing storage service? I already use Cloudflare for lots of other things, and don't personally care all that much about the "Cloudflare's near-monopoly as a web intermediary is dangerous" arguments or anything like that.

There is no data locality. If your workload is in AWS already you might save money by keeping the data in the more expensive S3 vs going out to Cloudflare to fetch your bytes and return your results.

If you don't mind having your bits reside elsewhere, Backblaze B2 and Bunny.net single location storage are both cheaper than Cloudflare.