Brent Ozar performs a test:
I’ve already explained that no, it doesn’t make your database server more reliable – and in fact, it’s the exact opposite. But what about performance?
The answer is going to depend on your hardware and workload, but let’s work through an example. I’ll take the first lab workload from the Mastering Server Tuning class and set it up on an AWS i3en.2xlarge VM, which has 8 cores, 64GB RAM, and two 2.5TB NVMe SSDs. (This was one of the cheapest SQL-friendly VM types with two SSDs, but of course there are any number of ways you could run a test like this, including EBS volumes.)
I would expect cloud versus on-premises answers to be quite different, because cloud services tend to throttle you hard on how much storage throughput you’re allowed to have. For that reason, the results make perfect sense in AWS (or Azure or GCP for that matter), but unless your on-prem solution has hard throttles on IOPS or throughput because your sysadmins are monsters, the limits of performance would be in how hard you can push the drives or your storage controllers.
Ultimately, the most appropriate answer is to test your systems and not rely on expectations, especially if you’re shifting from on-premises to a cloud (or vice versa).