Would Lambda be consider Platform as a Service or Function as a Service?
Lamdba is Serverless and is considered as Function as a service. Lambda is triggered by events and you are paying for seconds of use where Platfrom as a service (that are typically always on) you pay for the running time in day or more. An example of Platform as a service is Amazon Lightsail that provides web hosting on preconfigured Virtual Private Servers (VPS) for lower cost, for this service you pay by month.
I believe it would be considered function as a service (FaaS).
I believe so too