You've been handed a ~$6,000/mo architecture where nothing is right: a web tier and an API tier both on prev-gen on-demand instances in a single AZ, no CDN, no cache, an oversized Multi-AZ database, and terabytes of cold data sitting in S3 Standard.
Targets: 8,000 rps, p99 ≤ 130 ms, 99.95% availability, critical durability, under $1,600/mo.
Pull every lever at once — CDN, Graviton, autoscaling across two AZs, Savings Plans, a cache tier, a right-sized Multi-AZ database, and the correct storage class — to bring a broken bill back under control without missing the SLA.