Amazon's announcement of ElastiCache Serverless at re:Invent 2023 introduces a new level of simplicity to caching services, addressing several limitations of its non-serverless predecessor. The service supports native Memcache and Redis APIs, facilitating easier migrations from traditional setups, and offers multi-AZ deployment by default, eliminating the need for complex configurations for high availability. Although it removes the need for autoscaling groups and simplifies pricing with a pay-per-use model, the pricing structure starts at $90/month for up to 1GB and does not entirely achieve the ideal of scaling to zero. Despite these advancements, the service has areas for improvement, particularly in scaling speed during high demand spikes. The blog compares ElastiCache Serverless to Momento Cache, highlighting the latter's compliance with serverless principles by offering usage-based pricing without minimums and requiring no management or provisioning, positioning it as a competitive alternative.