If it is for AWS resources it is not equivalent.

AWS don’t owe non AWS customers free certificates, though.

It is possible to host LetsEncrypt alternatives, though. The viability is another matter, though.

LetsEncrypt doesn't owe anyone free certificates, either. The point is that AWS isn't an alternative unless you're spending money with AWS. Nobody is wondering whether you can get a certificate by paying someone.

Equivalent in the sense that, if you're in AWS (which is a non-insignficant amount of people) then you have options other then Lets Encrypt.

And zerossl exists for non-aws