For a lot of use cases such as caching (e.g., the ephemeral caching layer in Snowflake), ephemeral storage is good enough. If you really want to, you could also achieve persistence by replicating to multiple instances (afaik this is what DynamoDB does)
Thats difficult for most people to implement in their applciations, and it increases latency to be closer to networked SSD anyway. So it remains fairly niche.