Most of the folks impacted by cloud outages do not have highly available systems in place. Perhaps, for their business, the cost doesn't justify the outcome.
If you need high uptime for instances, build your system to be highly available and leverage the fault domain constructs your provider offers (placement groups, availability zones, regions, load balancing, DNS routing, autoscaling groups, service discovery, etc). For instances, double down and use spot instance and maximum lifetimes in your groups so that you're continuously validating your application can recovery from instance interruptions.
If you're heavy on applications that leverage cloud APIs, such as is often the case with labmdas, then strongly consider multi-region active/active as API outages tend to cross AZ's and impact the entire region.
