One thing concerns me however: Standard – IA has an availability SLA of 99%.
If this is just a reduced SLA but the actual availability is likely to be similar, that's fine. But if the actual availability is not expected to hit 99.9% -- say, if the backend implementation is "one copy in online storage, plus a backup in Glacier which gets retrieved if the online copy dies" that would be completely inadequate.
Hopefully we'll get more details over time.