I'm a multimedia developer and creator since late 90's. Beside working with kids and teenagers in a fablab in Molenbeek, Belgium for fablabke.be, at night I code : agorakit.org
In my situation, serverless relates more to something that looks like shared hosting for an initially small project, and the scale up involves scaling up to the point the project uses a single, very powerful server at my hosting provider (at a quite high price). And you know what, none of my project ever reached the limit of the single, managed high end server.
I have the feeling that this serverless trend smells over-engineering for a lot of projects.
Tradeoff : you need to trust your hosting provider, and they must provide a nice scaling on the pricing side (from a few $$ / month up to a few hundreds / months).
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In my situation, serverless relates more to something that looks like shared hosting for an initially small project, and the scale up involves scaling up to the point the project uses a single, very powerful server at my hosting provider (at a quite high price). And you know what, none of my project ever reached the limit of the single, managed high end server.
I have the feeling that this serverless trend smells over-engineering for a lot of projects.
Tradeoff : you need to trust your hosting provider, and they must provide a nice scaling on the pricing side (from a few $$ / month up to a few hundreds / months).