The main reason we won't consider using Oracle Cloud is simply because Oracle has already demonstrated their sheer contempt for their own customers through their on-prem database licensing program, so I dread to think what they would do to enforce their IP rights or ToS with their cloud customers.
Another reason we disregarded them (and GCP[1]) is because they simply aren't _big and successful enough_ to give us the confidence they'll keep on running into the forseeable future and with the kind of reliability we expect - and this outage incident demonstrates that they clearly aren't. I know that Azure and AWS have both had significant outage incidents in the past, but both have been rock-solid stable in recent years. For this to happen at Oracle suggests something is institutionally wrong: if they can't get 99.999% uptime on their own worldwide Cloud operations then I cannot trust them with our own SaaS platform because we promise 99.999% to our own customers.
[1]I'm wary about GCP because Google hasn't issued any kind of promissory statement that GCP won't end up on the [Google Graveyard](https://killedbygoogle.com/)