"Serverless" is an overloaded term marketing that really means functions-as-a-service. Looking at the stack, I don't actually see any components that you couldn't easily port to an on-prem solution.
This architecture diagram (https://oodle.ai/product#magicbehindoodle) goes into more detail into where we leverage Serverless. For ingestion, we still use dedicated compute, but for queries, we leverage serverless.