It really is so much cheaper. After dropping S3/RDS/ECS for OVH bare metal running Proxmox, my costs decreased significantly. I still use Route 53 and back up to S3, though.
Please don't compare Hetzner to the abomination that is OVH. OVH is more or less ok for non-critical fun projects, but Hetzner is often cheaper and always more reliable.
Hetzner used to be only significantly better than OVH. Now they are in a different league.