The worst part is that very poor diversification / groupthink is exactly what creates financial bubbles and financial crises. We seem to be reaching that uncomfortable too-big-to-fail scale in computing / cyber security.
Other shoe will not drop because the liability for mishandling customer/user data is minimal. I don't expect a scenario where Microsoft (of even Microsoft's cloud division) folds after this. Bear Stearns actually collapsed after their fuckups.
We clearly reached it at the 90's. We have been waiting for the other shoe to drop since then.