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Serverless runs on servers
(gregtech.eu)
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CapEx vs OpEx.
Not really. Serverless is OpEx. VPS is OpEx, but you also need OpEx budget for a person who can manage servers, not just a programmer.
VPS isn't rocket science, so you can probably find someone who can both program things and do the basic VPS server management needed. But, it is work that needs to be done by someone. In some cases, like if you're hiring scientists from academia who have never done any of their own sysadmin type stuff, it might be easier to just go with serverless so all they need to do is write programs.