I don't see how that's the root cause. ClickHouse and snowflake run on your so-called slow vms on overprovisioned cloud hosts and they're efficient as hell. It's all about your optimizations.
The real problem is the lack of understanding by most engineers the degree of overprovisioning they do for code that's simple and doing stupid things using an inefficient 4th order language on top of 5 different useless (imo) abstractions.
No but my developer velocity! We should sacrifice literally everything else in order to enable me!!!! Nothing else matters except for my ease of life!
/s