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Cloudflare workers: $0.15 per 1M requests per month, minimum charge of $5 per month.
Free tier is 100 000 requests per day
Here's the pricing page: https://workers.cloudflare.com/#plans
Not ELI5 but see https://github.com/cncf/wg-serverless/tree/master/whitepaper...
Some people go monolithic app but best practice is usually one function per route.
Traditional servers come with management overhead (e.g. defining/managing/monitoring scaling) and by using Serverless servers you avoid that overhead and optimize for good engineers which are almost always your bigger cost center.
The foundation is Apache OpenWhisk https://github.com/apache/openwhisk with DO specific customization to work with managed databased, log shipping, and other DO specific capabilities. The closest programming model is AWS Lambda in terms of the semantics and execution model.