There are very few businesses that genuinely cannot handle an outage like this. The only examples I've personally experienced are payment processing and semiconductor manufacturing. A severe IT outage in either of these businesses is an actual crisis. Contrast with the South Korean government who seems largely unaffected by the recent loss of an entire building full of machines with no backups.
I've worked in a retail store that had a total electricity outage and saw virtually no reduction in sales numbers for the day. I have seen a bank operate with a broken core system for weeks. I have never heard of someone actually cancelling a subscription over a transient outage in YouTube, Spotify, Netflix, Steam, etc.
The takeaway I always have from these events is that you should engineer your business to be resilient to the real tradeoff that AWS offers. If you don't overreact to the occasional outage and have reasonable measures to work around for a day or 2, it's almost certainly easier and cheaper than building a multi cloud complexity hellscape or dragging it all back on prem.
Thinking in terms of competition and game theory, you'll probably win even if your competitor has a perfect failover strategy. The cost of maintaining a flawless eject button for an entire cloud is like an anvil around your neck. Every IT decision has to be filtered through this axis. When you can just slap another EC2 on the pile, you can run laps around your peers.
