Does a regular 20-something software engineer still know how to turn some eBay servers & routers into a platform for hosting a high-traffic web application? Because that is still a thing you can do! (I've done it last year to make a 50PiB+ data store). I'm genuinely curious how popular it is for medium-to-big projects.
And Hetzner gives you almost all of that economic upside while taking away much of the physical hassle! Why are they not kings of the hosting world, rather than turning over a modest €367M (2021).
I find it hard to believe that the knowledge to manage a bunch of dedicated servers is that arcane that people wouldn't choose it for this kind of gigantic saving.