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Love the team at DigitalOcean but Spaces was NOT reliable the last time I played with it. It’s also lacking key features in lifecycle and notification areas. Maybe they’ve gotten things together in recent months/years and I haven’t gotten the update, but it was very “you get what you pay for” when I tried to stage a project using it in 2018/19.
Not that Spaces isn’t a good product, but there are countless S3 compatible object storage services.

This announcement is noteworthy because there’s no egress fees. Spaces still charges 1c per gigabyte for egress. Not comparable in that aspect.

Spaces is not good, in my experience. Their Frankfurt storage just stopped working for like a week. And last time I checked they still didn't support critical features like per-bucket access keys or index.html support.
Scaleway also provides a similar service. Had an issue recently (deleted a bucket, and couldn't create another bucket with the same name) and their support replied back in minutes.
Scaleway S3 was slow as hell for small files last time I tried, is it better now?
I had no issues, maybe they're better now? People said the same about DO and I haven't had any issues with them as well.
I tried spaces about 2 years ago. I had serious performance issues with it. I abandoned it.