For example, I have seen several cases where poorly designed systems that unexpectedly used too much memory, and there was no time to fix it, so the company increased the memory on all instances with a few clicks. When you need to do this immediately to avoid a botched release that has already been called "successful" and announced as such to stakeholders, that is a capability that saves the day.
An example of de-risking is using a cloud filesystem like EFS to provide a pseudo-infinite volume. No risk of an outage due to an unexpectedly full disk.
Another example would be using a managed database system like RDS vs self-managing the same RDBMS: using the managed version saves on labor and reduces risk for things like upgrades. What would ordinarily be a significant effort for a small company becomes automatic, and RDS includes various sanity checks to help prevent you from making mistakes.
The reality of the industry is that many companies are just trying to hit the next milestone of their business by a deadline, and the cloud can help despite the downsides.