“AWS EC2 was an early NVMe pioneer, launching the i3 instance with 8 physically-attached NVMe SSDs in early 2017.”
Top PCIe 5.0 drives now read at about 13 GB/s, and eight of them in a lab server push 100 GB/s. Local NVMe on EC2 still sits around 2 GB/s per SSD, the same as the i3 in 2017. Network bandwidth went from 10 to 200 Gbit/s over the same years. Amazon kept the cheap storage slow and the EBS bill fast.