The limitation with this type of approach is the assumption of a conventional (and, some would say, out of date) architecture, ie. single service on a single VM on a single cloud provider.
Topology specification, firewalling, resource constraints (bandwidth, IO speed/resilience... ie. RAID/backup persistence safety), service cohabitation or codependence, performance/capacity testing, cost, cloud provider abstraction, public DNS+SSL+sofware package distribution infrastructure dependencies, legal jurisdiction considerations, speed of instantiation, etc. are all realistic considerations (often requirements) for much modern infrastructure.
In short: this only gets you half-way, for relatively simple examples. But if your workload is within that space, by all means go for it.
(PS. Before anyone snaps 'you can manage multiple hosts with ', sure. But the architecture of the tools begins to present issues.)