Among the many benefits of running @bitfinex outside of AWS (predictability of the system, performance, ...), we were sick tired of AWS rebooting instances without much of a notice.
In many occasions AWS sent a communication after the fact.
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None of those potentially beneficial properties have anything to do with cycling of instances which was the original point you made.
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When you have to manage a matching engine that has to ensure 50 microsecond and 100k order/sec and you get a random reboot you'll tell me. We fail-over ofc but the post reconciliation check require always an important effort. So if frequent it's annoying.
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