Maybe this really depends on region, but I can't say this is true. I've experienced tons of hardware failures that have caused instances to throw weird errors, instances to randomly stop, instances to randomly disappear (along with their corresponding EBS volume).
Standard EBS volumes are only 99.8% durable. If you run a lot of instances on EBS, some of them will disappear.
GCP meanwhile has balanced zonal PDs (not even regional, zonal) at >99.999% durability.
I've never lost a disk on GCP, I've never even had an instance stop once without me telling it to stop.
Azure is absolutely a hot mess though. Had a VM a client was paying for backups on. Couldn't restore the backup because they changed generations of VM platforms too many times, literally no way to restore it. Had to get their support to eventually give me a .vhd that magically appeared in a OneDrive share a few days after asking about it.