Bandwidth pricing at GCP/AWS/Azure is not reflective of the price to provide the bandwidth.
Cloud pricing is strange because it's not based on reality or cost of providing the service at all. It's also clearly an anti-competitive market once you understand that.
Short answer is that the big clouds are trying to make a profit - a large profit - and competing with each other cuts into that profit & devalues the market. If the market isn't lucrative enough, the big clouds will have less priority to push their clouds and everyone loses.
There is no other property here.
Reliability/redundancy is not a factor. (Routers & switches don't cost much anymore)
Performance is not a factor. (Do people really think they don't get their bandwidth almost free through peering?)
Cloud pricing is strange because it's not based on reality or cost of providing the service at all. It's also clearly an anti-competitive market once you understand that.
Short answer is that the big clouds are trying to make a profit - a large profit - and competing with each other cuts into that profit & devalues the market. If the market isn't lucrative enough, the big clouds will have less priority to push their clouds and everyone loses.
There is no other property here.
Reliability/redundancy is not a factor. (Routers & switches don't cost much anymore)
Performance is not a factor. (Do people really think they don't get their bandwidth almost free through peering?)
It's all profit.