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https://mail.tarsnap.com/tarsnap-announce/msg00050.html

> Following my ill-defined "Tarsnap doesn't have an SLA but I'll give people credits for outages when it seems fair" policy, I credited everyone's Tarsnap accounts with 50% of a month's storage costs.

So in this case the downtime was roughly 26 hours, and the refund was for 50% of a month, so that's more than a 1-1 downtime refund.

Most "legacy" hosts do yes. The norm used to be a percentage of your bill for every hour of downtime once uptime dropped below 99.9%. If the outage was big enough you'd get credit exceeding your bill, and many would allow credit withdrawal in those circumstances. There were still limits to protect the host but there was a much better SLA in place.

Cloud providers just never adopted that and the "ha, sucks to be you" mentality they have became the norm.

Depends on which service you're paying for. For pure hosting the answer is no, which is why it rarely makes sense to go AWS for uptime and stability because when it goes down there's nothing you can do. As opposed to bare metal hosting with redundancy across data centers, which can even cost less than AWS for a lot of common workloads.