Thanks for your inputs. A lot of it resonates with what I've observed which translates to the fact that this is as much a cultural/people problem as much it is a technical problem. If teams took ownership by just building visibility, then it'd be an easier problem to solve.
You bring up a good point of doing canary deployments for solving this problem. I'll check this out.
But its interesting that you say ".. if it is a substantial risk in your domain". Isn't this a problem that most engineering teams are struggling with, especially in last few years? Being part of a few DevOps meetups in my area(Seattle) for a while and having attended a bunch of conferences in last couple of year, I've noticed cost coming up as one of the most recurring discussion topics. Just curious why cloud costs wont be a risk in any domain.