Not ideal but it's better than pure X vs Y.
It could still be a good, but very expensive, service, but its hard for me to imagine something that would be one-size-fits all service that would accurately predict real world experience.
It wouldn't be much harder than just making sure you're the only VM running on the hardware (disk & cpu) . Much like a "reserved instance", with real guarantees against side effects.
Obviously you can build test suites for each of these scenarios, but I think it would be expensive to run all of them. That's all I'm really saying, it's by no means a bad idea, I think it's a great idea, just going to require some upfront thought of what type of environment the software is going to run in.
So it's expensive b/c it consumes CPU and time on shared systems, and those cost money... so I think a service like this could potentially cost significantly more to operate than say travis-ci.