I believe GCP currently has the best feature for this. You can set both billing alerts as well as caps. However, I also believe that it can take up to 24 hours between incurring a cost and it showing up on your billing report. So even on GCP (which is the most forward-thinking cloud service for this feature), you can incur up to 24 hours of charges over your maximum billing threshold cutoff. I'm also not 100% sure if GCP's billing threshold is really designed to be a "hard cap" per se.
The real question is whether AWS should let perfect be the enemy of good; and/or whether providing a somewhat "broken" service like GCP's would mislead customers into feeling more protected than they actually are.
See here where someone set a Firebase billing budget of $7 but an infinite recursion generated $72,000 in charges. When the founders started seeing the charges come in, all they could do was watch as it grew and grew....because their screen was merely reflecting what had already happened in hours past.
https://www.theregister.com/2020/12/10/google_cloud_over_run...
Discussed here: https://news.ycombinator.com/item?id=25398148