In my view, it's perfect (okay, maybe slightly less than perfect, and dedicated platforms taking ot to the next level like Netlify, CloudFlare Pages, Firebase Hosting, etc are for their added related services and tools, as well as their generous free tiers). It's pay as you go, scales from zero to infinite, and has zero attack surface or maintenance.

I've run a couple of websites (WordPress or Hugo based, including my personal blog) like that and it's great.

You probably want some kind of CDN to avoid a HN frontpage link from making you go bankrupt, but it's a pretty decent solution.

I personally prefer something like Github Pages, though - it doesn't get much more hands-off than that!

Good Q. Using S3 as origin behind Cloudfront seems like a pretty standard AWS CDN setup for static assets... but S3 isn't a traditional web server.