Seriously, who will change provider because of this? Our institution is so brainwashed and hidebound to Microsoft it would take a lot more than this. It seems like an abusive relationship: the bad times just increase fear generally, so make change less likely.
It might not force a change away, but it definitely reduces the chance of people switching to them.
I suspect people will take it in their stride. What would happen after a month long outage is another question.
It's the same with AWS, Cloudflare. There is also this weird effect, often commented on here, where if half the Internet is down, everyone understands when you are down. If I use some random new start up for my infrastructure or services, and it goes down, customers and executives are furious. So it seems we are stuck here.