Very little of the cloud compute business actually involves compute.
Businesses move to the cloud for lower TCO compared to solutions they would have to hire entire teams of engineers to deploy and manage.
Something like AWS, the CPU cores account for a small percentage of the revenues they make.
The vast majority of their EC2 instance types have dedicated CPU cores. This may not necessarily mean that VMs are pinned to cores, but just that the overall compute power available is pretty tightly segmented.
But regardless, as a technical decision maker, I’ll move my organization to the cloud because of scalability, fault-tolerance, reliability & security - things that would be impossible or prohibitively expensive to do on-prem. CPU cores are rounding errors in comparison.