From our perspective I'm not sure the cloud abstraction is better or we even want it to be done like that locally. Look at S3 as an API for example. It's absolutely dire. I'd rather use NFS (!). And stuff like Lambda and Cloud Functions are just cat turds.
On the DB side, I can't say too much as we're a pretty obviously identifiable AWS customer if I give out any details. I will only say that nothing fits our size and scale so we have to run on bare metal. That just makes it really fucking expensive colocation.
Lambda is awesome .. until you actually try to use it for realsies. Cat turd is an apt description. Just being able to get the damn logs for debugging is itself a hassle. Terraform helps a ton in all this and I rarely find myself using the AWS UI anymore. Still Lambda is a great idea that just doesn't deliver for any use case more than responding to some S3 upload action or Event Bridge operation.
Don't even get me started on the API Gateway sitting in front of a group of related Lambdas. Its OK once you get it setup and running but buildign/changing it amounts to stabbing yourself in the eyes.