IIRC there was a similar rumor that S3 reduced redundancy storage was just cheaper rates for the exact same service. Not sure if that is true, but certainly meets the minimum viable product.
Glacier as S3 with sleeps seems to be a pretty reasonable extrapolation of that same idea. Plus, the sleeps are long enough that if and when they build it for real, it could be economically viable.
That said, if the quoted 0.3 cents is true, it should be viable as it is by just stuffing way more density in a rack and keeping them powered down most of the time... Though that rack would probably weigh tons, so you'd probably want to reinforce the floor of the data center a bit. We saw equinix facilities with concrete floors and ventilation delivered from above, so something like that could be an option.
Glacier as S3 with sleeps seems to be a pretty reasonable extrapolation of that same idea. Plus, the sleeps are long enough that if and when they build it for real, it could be economically viable.
That said, if the quoted 0.3 cents is true, it should be viable as it is by just stuffing way more density in a rack and keeping them powered down most of the time... Though that rack would probably weigh tons, so you'd probably want to reinforce the floor of the data center a bit. We saw equinix facilities with concrete floors and ventilation delivered from above, so something like that could be an option.