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Ask HN: Why do $5 VPS offerings still have the same specs as 10 years ago?

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Ask HN: Why do $5 VPS offerings still have the same specs as 10 years ago?

#1
2012: Digital Ocean (or equivalent) offered VPS's with 1gb RAM and 20gb disk for $5

2020: $5 still gets you at most 1 vCPU, 1gb RAM, and 20-50gb SSD.

Why is there no price innovation happening? Cloud offerings seem to be static, despite cost reductions and other progress.