You’d be shocked how rare downtime is with modern hardware. A redundant power supply and SSDs in the right RAID configuration typically will not have any issues for years until it can be replaced by a newer model. Also, hardware monitoring is significantly improved to the point where you’ll typically know if something will fail and can schedule the maintenance.
In the past power supplies and spinning disc hard drives would fail much more often.
It’s basically a solved problem, outside of extremely mission critical, 5 nines kind of stuff, that we all forgot because of AWS.
HN ran, and may still run, on a single bare metal server.