More likely your system is more sophisticated, I have just joined the hobby, so to say. But I am sure you can go much cheaper than that with bare metal. If I’d really need to host something, I’d rather buy a real server, and invest in solar power instead of paying some rent. Was a happy Digital Ocean customer, before I realised I can do the same with a Raspberry Pi. I was buying a couple of Pis a year for them. Right now, de-facto one Pi can host everything I really need. I regret I wasted about half a thousand on nothing. Could have bought a great NUC instead of wasting money on the cheapest VM for years.