It is... and that's potentially part of the problem. The value proposition at the low-demand end of serverless is less clear for PHP, since it's pretty much had that value (throw files on a cheap host and forget about the vanishingly small cost) for two decades.

Still compelling for people who see spiky to high traffic and are happy to have scale reduced to an accounting/budgeting problem, of course, and I'm pretty sure Laravel has something like this.