This 1-XS server costs 2€ every month and it could perfectly handle the email of hundreds of users. They are charging you more only for yourself, and that's not even factoring in the economies of scale.
Well, think about the VPS you're proposing. Two euros a month is 24€ a year. Even if you're only paying yourself 6€ an hour, I'm skeptical that running an email server for 100 people would require less than four hours per year.
https://www.scaleway.com/virtual-cloud-servers/#anchor_start...