From what I read they are partially doing it actually, I mentioned that the services were too overpriced, and this is cheap, and that backups, high availability with replication and automatic failover, redis cluster management, should be the interesting parts of this kind of offering.

It seems like they have plans to do part of this stuff for the small price they as: "without the hassle of setting up backups, monitoring and replication", but I think ip failover is an important option that should be added eventually.

That is, as a user of a managed instance I want a master <-> slave setup that is totally transparent to me, I just know I payed for this optional service, and that if something goes wrong with my master I'll receive an email message with a warning and automatically the IP address (or all my requests at an higher level) is routed to a different instance (a slave elected to master).