AWS is the real cash cow

Significantly higher margins and bigger government contracts, particularly with state security services. So no surprise there.

But Amazon, as a retail business venture, generates significant profits on its own. What's more, it is gradually supplanting the USPS, which puts the business at the logistical center of a critical piece of US infrastructure. A classic "Too Big To Fail" setup that also guarantees Amazon a customer base indefinitely and lets them freeze out competitors as the USPS decays.

AWS is a bigger funnel of money, but Amazon retail and wholesale is an enormous economic footprint with lots of downstream political consequences.

And that cash cow also gives him lots of leverage to keep companies in line. Like if he wanted to prevent certain subjects or photos from going viral.