There are a lot of costs that go into a service like this that have nothing 
to do with the cost of the machines in use:  the cost of power, the 
salaries/benefits of team members * the size of the team (which sounds like 
it's increasing), insurance premiums on the data centers, R&D costs, they 
have to make enough to cover potential pay-outs due to SLA violations, and 
probably dozens of others that are far less obvious.  You're also assuming 
that they replace all the machines every time a faster/cheaper version comes 
out.

I have no way to know to know their profit margin on their cost vs. revenue, 
but saying the price of the service should be cut in half because computing 
power has become cheaper is a bit ridiculous.

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