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Wow. Thank you for that incredibly detailed explanation!!
It does sound like though that it is POTENTIALLY cheaper than something like B2, but also much easier to misconfigure and end up in a more expensive tier.
Seems to me unless you have a reason to use Amazon storage or already have something using it, using it for backup isn’t the best idea.
That's a good takeaway. AWS is the ultimate Swiss army knife, but it is easy to misconfigure. Personally, when you are first learning AWS, I wouldn't put more data in then you are willing to pay for on the most expensive tier. AWS also gives you options to set price alerts, so if you do start playing with it, spend the time to set cost alerts so you know when something is going awry.
Have a great day!