They only operate in Europe where computing services are generally cheaper and they seem to be running on processors that are a few years old. It's not outdated old but there's a chance the servers are what remain after a more premium product is upgraded.
Also there are no performance guarantees, no SAN for the SSDs (no redundancy so much lower cost), limited bandwidth and a lower SLA.
I'd guess that since there are no performance guarantees, they're likely overcommitting substantially.
