I think the biggest features of the big cloud vendors is that when they are down, not only you but your customers and your competitors usually have issues at the same time so everybody just shrug and have a lazy/off day at the same time. Even on call teams reall just have to wait and stay on standby because there is very little they can do. Doing a failover can be slower than waiting for the recovery, not help at all if outage is spanned accross several region, or bring aditional risks.

And more importantly nobody lose any reputation except AWS/Azure/Google.