Yeah, I am guessing it's just a placeholder till they get more info. I thought I saw somewhere that internally within Microsoft it's seen as a "Sev 1" with "all hands on deck" - Annoyingly I can't remember where I saw it, so if someone spots it before I do, please credit that person :D
Edit: Typo!
It's a Sev 0 actually (as one would expect - this isn't a big secret). I was on the engineering bridge call earlier for a bit. The Azure service I work on was minimally impacted (our customer facing dashboard could not load, but APIs and data layer were not impacted) but we found a workaround.
It was here https://news.ycombinator.com/item?id=45749054 but that comment has been deleted.