I counter your anecdote with mine!

A cloud vendor (who will be nameless as I signed an NDA specifically that prevents me from disparaging them; but one of the big three) ran out of capacity for me and it was 3 months before they managed to fix it. -- that was with a couple million a month in spend.

Cloud is still servers; you just depend on someone elses capacity management skills and you hope that there isn't a rush to populate a location (like when a region goes down and everyone's auto-provisioners move regions to yours)