I run a one-person load-balanced SaaS on Hetzner. In the 2 years since I started I've had no customer-facing outages.

Over the same period, I think there's been two outages of AWS us-east-1 and a multi-region GCP outage. Plus weekly outages of a grownup unicorn SaaS like github or slack.

It's a tradeoff: the simplicity of such a setup reduces outage risk, and the costs saved can be spent on monitoring tools or extra redundancy.