[nitinics]

I think it all boils down to how you deploy your stuff. If you think Cloud is so massive that it is never a SPOF, you'll likely not meet your availability aspirations in some time in future.

Cloud to me is also shared risk. I read - "Google cloud outage" as "multiple companies that rely on a shared infrastructure is not available ATM".

The mindset should be to run your services on a distributed infrastructure with no SPOF. Leverage cloud, fog, racks, PCs, whatever resources you can, but diversify your content/service and be risk averse from failure of one kind.