alt Hacker NewsIsn't this nature of every dedicated server? You also take on the hardware management burden - that's why they can be insanely cheap.
But there is middleground in form of VPS, where hardware is managed by the provider. It's still way way cheaper than some cloud magic service.
VPS comes at the cost of potential for oversubscription - even from more reputable vendors. You never really know if you're actually getting what you're paying for.