With short term outages like this your probably right that a single point of failure doesn't matter.

It's the longer term outages that are the problem. That's because we start talking about knock on effects.

It's not really a problem if your supplier (and all others) have a short term issue (assuming you don't run super lean). It may be a headache if your supplier has a longer term issue while you set up another supplier (or use your less desired one) but it's not a disaster. It's a big problem if all suppliers are down for more than a short time.

I'd assume people seeing this as a market failure are talking about it in the "this highlights the problem" kind of way, not the "this event was a true disaster" way.