I imagine most people running a company would have a separate corporate account linked to a credit card, so that personal circumstances have less of a major effect month to month.
See also the followup question:
Q: How can I ensure maximum protection of my preserved versions?
Versioning’s MFA Delete capability, which uses multi-factor authentication, can be used to provide an additional layer of security. By default, all requests to your Amazon S3 bucket require your AWS account credentials. If you enable Versioning with MFA Delete on your Amazon S3 bucket, two forms of authentication are required to permanently delete a version of an object: your AWS account credentials and a valid six-digit code and serial number from an authentication device in your physical possession
“I should blog about Instapaper's backup setup sometime. It's pretty extensive. A lot of places would need to burn down to lose your data.”
Maybe he just likes having a complete copy of the production data on his local development instance? Great for local data ming too.