Which area? Hetzner, Leaseweb, OVH and dozens of smaller hosting providers can fill the needs. The only thing US hosting providers have is marketing and easy money.
Hosted Microsoft products mostly, which is what tons of smaller companies want from "the cloud". And some AWS workalike, which usually means AWS, because the stackoverflow answer they found doesn't tell them about the rest.
Haha you are so right!! That i think is the biggest problem with Europe, Microsoft an Apple is just everywhere...probably even more Windows installations on servers than the US.
Hopefully this will force more independence and provide a boost to the European providers.