The cheap end of hotel rates dont include breakfast. You are right on utilities, but the counterpoint is that you have (for example) lost access to a kitchen to cook, pushing other costs up.

I reckon costs being of "similar magnitude" is plausible (if the monthly rate discount is truly ~50%). Interesting trade offs imo

When we stayed at an extended stay, there was a stovetop and a microwave. I’m sure if you wanted to cook you could get a hot plate.