For many start-ups, AWS took market share from Managed Hosting service like Rackspace.
Managing hosting at least took over some of the devops and techops of deploying servers.
But … man, it is / wasn’t enough.
The servers would go down — and you’d have to bring them back up. The patches wouldn’t go out. The services weren’t even remotely elastic — you had to manually add new servers one-by-one. You had to architect it all yourself (load balancing, database, file servers, everything, etc.)
Those weren’t the good old days.