My S3 egress bill last month was $340 for 2.4TB. I built a reverse proxy mesh instead.
Architecture: 12 VPS across Contabo (Tokyo), RackNerd (Singapore), InterServer (Secaucus), HostHatch (Sydney), plus eight others. Each runs nginx with proxy_cache. Origin is still S3 but requests hit edge caches. Cache invalidation via webhook fanout.
Diagram attached—happy to share ansible playbooks if useful.
Current cost: $38/month total. Cache hit ratio 94%.