To be fair, companies that merely launch VMs on GCP constitute a small fraction. GCP truly excels when you leverage its object storage, BigQuery, managed postgres database (which starts at 7$/month), and serverless solutions for cloud-native applications. Our company operates around 500 services, with billing per second, and a significant number of them are scaled down to zero when not in use. If you need a GPU for a batch processing task involving 10,000 images, you can simply activate a VM equipped with a high-performance GPU for an hour, pay for that duration, and then shut it down. At Hetzner, you're required to pay for a whole month upfront, regardless of whether you need the GPU for just an hour each day.

Therefore, I'd argue that if you require continuous, raw computing power, Hetzner is indeed cost-effective. However, the cost-effectiveness elsewhere really hinges on your usage patterns.