Yes, absolutely. Which means you need to architect and run expecting failure, which is so much different than traditional apps. (I am calling architectures 10 years old, "traditional"; that is funny.)
you're supposed to architect assuming failure no matter what. it's been like this for years. most engineers just choose to ignore best practices.
aws is just the first provider to explicitly tell their users "we don't care if your servers go down. tough cookies." which is what they all should have been doing in the first place.