There are other benefits also:
1. You can get started for dirt-cheap or in some cases, free
2. There's a common API for requesting new instances and performing maintenance tasks
3. There are extra services available to help build your apps such as SES, S3, and RDS to name but a few I found very helpful.
I'm not saying anything in this thread is wrong. But in software engineering, we say "write the code that only you can write", which is a suggestion (but not a rule) to use pre-built libraries instead of trying to make your own. Perhaps we should also say, "run the instances that only you can run".