Earlier quoted context omitted.
Pulling out backup on the site is $.01/GB - am I missing something?
If I am reading the pricing page[1] correctly, you still get hit with the egress charges on top of the $0.01/GB charge to retrieve from Nearline. Thus, for less than 1TB of data retrieval is $0.13/GB ($0.01 Nearline charge + $0.12 egress charge) if you are not in China or Australia. [1] https://cloud.google.com/storage/pricing#storage-pricing
The bandwidth cost is simply too high. They really need a "low quality" v. "standard quality" option. Plenty of people sell bandwidth at $.01-$.04 a GB with 99%-99.99% availability