I think it depends very much on what your product does. E.g. in your case (games) bandwidth is a big deal. The last three companies I've worked at have all had AWS bills of more than $10M/yr and data egress costs were never more than 2-8% of the bill. A mixture of B2C and B2B SaaS companies.
In that case, the economics of bare metal aren't as clear-cut.
This is such a great conversation, and I agree with you - that while the egress is egregious; it's rarely a large portion of the cost.
I run a team that manages our public and private (DC) cloud for a successful tech company. - I need more folks to help us do things better. Please contact me Mr. Pugs or others if you are open to thinking about looking at another company.
In that case, the economics of bare metal aren't as clear-cut.