Make sure you look at the underlying numbers in that study.
Charles, I think you should delve a bit deeper. The virtual softlayer instance had 50% less cores than the 32-way Amazon VM, yet was only 30% slower. In other words, processor to processor it had better performance and better price performance. The bare metal server, as you astutely put it, blew Amazon out of the water. That said, I disagree with you stating Apples and Oranges. Both are cloud offerings, both offer consumptive billing - why would anyone pay more for a slower, less performant, less secure offering? Especially one where the performance varies but the price doesn't.
As one of my mentors says, I'm just sayin'; I'm not shoutin'.