This was just a proof-of-concept using the smallest lambdas available. I definitely would opt for a EC2 instance. Though lambda would be enough for something like a configuration service.
Is a lambda easier to configure and set up? With Elastic Beanstalk and flask (and the sample code they provide) I can get an api running in a few minutes..
Both are trivial and take only minutes if you're already familiar with them, but Lambda doesn't involve managing instances, their OSes, or making sure they scale up / down (at the instance level) the way you want.