Well... The best days were just putting hardware in a 2U box, racking it, and paying a bit for power and networking. This was such an easier time, and a handful of core 2 duos were fully capable of streaming 1080p video to around a million daus.

Of course, there's far more money in really fancy shared hosting that wastes resources, so that's the current model. Then you market to C-level folks that "real companies" host on AWS or Azure, and that all others options are "unserious." If your opex for compute isn't a million, you're wrong.