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It's called Office 365 for a reason. 2020 is a leap year, but there is no reason for the outage to occur exactly on February 29 or December 31.

Wasn't there also a widely-publicized outage in 2016?

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There was a big one in 2018 involving authentication. A handful of datacenters outside of Houston couldn't get enough power and the shutdown procedures prioritized saving data. Some critical Azure system service was only located in that geographic zone and the data recovery priority caused that low level service to fail its migration. It caused a huge authentication failure across all Azure services globally. MS got blasted about it at Ignite pretty soon after.

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