Probably more. Your app can use the local API then as well. And AWS is insanely expensive, especially if you forget to block log ingestion to Cloudwatch (ask me how I know).
Well, how about having a local API and have no calls at all to your cloud infrastructure? Probably too easy and you cannot lock people into your ecosystem.
Does it though? I had a similar setup in the past, but I did not feel good with it. If your first backup corrupts that corruption is then synced to your remote location. Since then I have two separate backup runs for local and remote. But restic as well with resticprofile. Remote is a SFTP server. For restic I am using the rclone backend for SFTP since I had some connection issues with the internal SFTP backend (on connection resets it would just abort and not try to reconnect, but I think it got improved since then)