As someone who is using a CPU in the cloud for leisure activities this is spot on. Unless you rent what basically amounts to a desktop you're not going get a GPU and high performance cores from most cloud providers. They will instead give you the bread and butter efficient medium performance cores with a decent amount of RAM and a lot of network performance but inevitable latency. The price tag is pretty hefty. After a few months you could just buy a desktop/laptop system that fits your needs much better.