Why Companies Are Ditching the Cloud: The Rise of Cloud Repatriation

You can have a 100Gb uplink on a dedicated fibre for less than 1000$/month now. Which is insanely less than cloud bandwidth. Of course there are tons of other costs, but that alone can suffice to justify moving out of the cloud for bandwidth intensive app.

Running a service takes more than a fat pipe. You need to handle power outages, need redundant internet connections, ect, ect.

Yes, but for example a 10Gbit/s pipe is about 3PB of transfer capacity per month which is about 150 000$/month in S3 traffic. A 40kW UPS which can handle about 2 racks (2x42U) of high density servers, with a generator cost about 50k$. A redundant link with your own AS so you can BGP should cost about 5k$ per month (at least here in switzerland).

Of course it really depends on the application, but if you host something like a streaming video service where bandwidth is the main factor, you can quickly reach a point where self hosting is cheaper.

10Gbps is one "teen with a stolen credit card" DDoS event away from being unusable. If you're running a big service that someone may dislike, that's really not enough.