I don't have any hard data, my role is somewhat HPC-adjacent, rather than directly in it, so this is mostly what I've heard. One way to look at it is that for most HPC operators, they are not charged any of the following for their gear, it's just provided by the organization as part of the larger pool: Power, Cooling, Real Estate, Networking, Security, Silicon-Valley SRE salaries, 38% Cloud Vendor Profit Margin.
Of course, the organization will pay for some of those eventually, so it's not fully fair to not roll them into the IT costs, but there are also lots of ways that non-profits also don't pay those costs at the same levels that the cloud providers do either due to differences in overall costs, or in providing a lesser level of capability. (As a quick example, cloud providers need extensive physical security for their datacenters. A hospital server needs a locked door, and can leverage the existing hospital security team for free.)
Cloud is great if your need is elastic, or if you have time-sensitive revenue dependent on your calculations. In non-profit research environments, that is often not the case. Users have compute they want done "eventually", but they don't really care if it's done in 1 hour or 4 hours; they have lots of other good work to do while waiting for the compute to run in their background.