That's very true. Another thing is that it is not like EU is somehow very far behind the US in terms of services hosting or "the cloud". There is French OVH provider and there is German Hetzner. While the former has an opinion of being cheap but no so great (especially in terms of support), the Hetzner really shines.
Hetzner does not have all the AWS like "cloud" bells and whistles, however their VPS-es and especially dedicated servers are first class. In many, many situations it makes much more sense (both from costs perspective and ease of migration to other provider) to use dedicated servers and hire someone who will manage them, than throwing tons of money into Amazon pockets to get "X-large instances" that have power of old Celeron laptop (exaggerating a bit, but not that much).
Hetzner does not have all the AWS like "cloud" bells and whistles, however their VPS-es and especially dedicated servers are first class. In many, many situations it makes much more sense (both from costs perspective and ease of migration to other provider) to use dedicated servers and hire someone who will manage them, than throwing tons of money into Amazon pockets to get "X-large instances" that have power of old Celeron laptop (exaggerating a bit, but not that much).