It's not accurate at all. There are far more high tier cloud offerings in the US than in Europe.
Europe has nothing like AWS + Google + Azure + Oracle. Then you can add in a dozen mid tier companies like DigitalOcean.
They also have nothing like Cloudflare and dozens of other large cloud services companies. Europe has a cloud so basic and primitive you'd think they were a developing economic region still struggling to grasp basic software development.
Do you know that AWS uses other companies data centers in many places in the EU?
> They also have nothing like Cloudflare and dozens of other large cloud services companies. Europe has a cloud so basic and primitive you'd think they were a developing economic region still struggling to grasp basic software development.
You have no idea what you are talking about.
If you think Europe, which has United Internet(Ionos), OVH, scaleway, and many others is a developing region, you have never seen the hosting market in an actually developing market.