Precisely. Hetzner can provide a dedicated server with an Intel Core i7-2600, 16 GB RAM, and 2x3TB spinning disks for 29,00 €/month before tax with unlimited traffic via their server auction site for orphaned servers [0].

Other Hetzner and many OVH offerings have traffic caps, but these are in the region of ~10TB/month.

[0]: https://www.hetzner.com/sb/