Earlier quoted context omitted.
I think that's close to the truth. IIRC it's something like a massive cluster of machines that are effectively powered off 99% of the time with a careful sharding scheme where they're turned on and off in batches over a long period of time for periodic backup or restore of blobs.
it's amazing that Glacier is such a huge system with so many people working on it and it's still a public mystery how it works. I've not seen a single confirmation of how it works..
Also see this thread: https://news.ycombinator.com/item?id=13011396