>and not needing to pay a team to manage hardware
But you pay for a team to manage the cloud instances and services. Usually more than the hardware guys.
Most of the hardware stuff is done by the data center anyway. You just create a ticket for remote hands and the data center staff is going to rack the server you sent them or replace a hard disk etc.
Not so true. Not all remote hands are made equal. Some are there just for simple repairs / maintenance tasks. Don't be surprised that it may need a lot more hand holding.