OVH has a pretty solid network and are very transparent about peering and utilization.[1] The network is definitely much smaller than Amazon, but never had any problems with their peering, the network seems to have ample capacity (whereas Hetzner had less reliable peering). I have several servers in the OVH network in Europe and I get consistently high speeds for Europe&US, independent of the time I test (don't have much traffic from Asia so can't really test that).
They will offer you better peering if you pay extra, but even then you're paying much less than at AWS for high traffic.
I suspect that AWS makes most profit with bandwidth while other services run with a very low margin.
[1] http://weathermap.ovh.net/