Sure, IP address block fragmentation will remove some value, but you'd still kill a lot of juicy compromisable home IP addresses in those countries.
Regarding cloud providers - well, I hope they have some automated systems to clamp down, since it's against their own interest to serve as vectors.
If you use certificate authentication and disable password authentication then you've killed off 100% of unauthorised attempts right off the bat. There really isn't much need to do more than that, its the world's easiest security fix.
Leaving password auth on is simply negligent.
That said, blocking all countries that you don't expect to talk to is the world's second easiest security fix, and protects other processes you might have running, and other unknown vectors that might be worse, such as heartbleed.
All fun and games until you find yourself on travelling in Asia and you need to connect back home and forgot you blocked half the world.
As for "other processes", we're talking about SSH on this thread. If you've got other processes then that falls into on-host/upstream filtering via firewall area of security. Regarding "unknown vectors", as I said, patching, no amount of IP blocking will help you with that.
If you really want to talk about "world's second easiest security fix" for SSH, that would be running a super-hardened bastion host and using SSH ProxyJump.
I know this is an oft-repeated trope, but I disagree. If you are whitelisting users for ssh and use secure passwords, you're really quite safe. Whereas if you lose access to your device with ssh keys, you're locked out with no hope of getting back in.
In what sense is it "negligent"? I feel like this is just an example of people constantly repeating popular advice without really considering it, like happened with bad password expiration policies. Like, I get that an ssh key probably has more entropy, but there is such a thing as good enough. My ssh password for my server is mixed case with numbers, and 20+ characters. Good luck cracking it.
If drive-by SSH attempts - even a large number of them - are enough to have a noticeable impact on heat/power/wear, then you should probably consider, you know, not putting hardware from 1997 on the Internet. Really doesn't take that much energy on hardware built during the current century to reject an authentication attempt and log it.
Measurably?
This is why companies pay for https://www.greynoise.io/ so they don't need to worry about meaningless stuff.
This is the wrong number to look at. The relevant number is the login attempts that would have otherwise been successful. And if you’ve disabled passwords, that will be 0.
With exactly the same targeting, on port 22, you will see a rise from 100,000 to 101,000 which will likely not notice, despite it being as dangerous.
Changing the port does not make a targeted attack any more or less likely, or any more or less successful. But it does make it much more visible - and that’s useful for security as well.
A fault in your reasoning assumes that you know exactly what the attacker does - a credential attack; indeed this is the most common. However, maybe they are trying to exploit a zero day timing attack, requiring multiple attempts? Or some reconnaissance that lets them figure out valid usernames?
The different port won’t stop these of course, but will make the attempts stand out - which may allow you to stop them if noticed in time, or at least understand them in retrospect.