Everyone charges for convenience. A lot of people don't want the headache to run and secure their own Postgres, for example. It's a trade-off, same as servicing your car vs just handing it off to a garage mechanic.
Yeah I understand charging for convenience... kinda. Markup is too big IMO. Should be like 10-20% more not 3x. And then they should make up the difference in volume because why would you not choose the more convenient platform if they provide the same great hosting but managed or easier to use.