alt Hacker NewsAvailability ain't worth shit unless the compensation for missing said availability is anywhere near the business losses caused by it. "Credit on your bill" doesn't count (and you're not even likely to get that since they can just lie on their status page and pretend everything is fine).
Cloud is convenient but don't expect any kind of availability you can actually rely on. If you actually need that, you're gonna have to go multi-cloud or self-managed bare-metal at multiple providers anyway.
You go multi-region. Multi-cloud is extremely expensive, both in terms of data and functional equivalence.
Bare metal is pretty much the same story: you can host it at different providers, but scaling that and maintaining coherence between data centers is not an easy feat as it might sound.
And seriously now, no sane provider is willing to cover your losses if they go do down. On the other hand, it's not a secret this is not happening and you can take this into account in your risk management strategy.
After years and years, Amazon now has an offering to shield you from when us-east-1 goes down. Funny, no?