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We do see Amazon, Oracle and other providers offering full ARM based VMs, they work fine for the price... Even Facebook have been investing in ARM for their datacenters.
Yes there are, ARM will always be cheaper than Intel and is reaching competitive / comparable levels of performance.
Compute time is significantly cheaper than dev time. 76% of the internet web is powered by PHP and entire services are developed in JS. The average cost of a software developer in the US is 140k, while you can rent a server with 24 cores, 64 GiB of RAM and 4 TiB SSD that can run plenty of badly optimized Node.js docker containers for 90 bucks a month.