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It was not updated immediately. I was seeing 503s for a solid 15 minutes while the status page was all green. This is also their second outage today:

https://status.gitlab.com/pages/history/5b36dc6502d06804c083...

Yep, status page was certainly all green when I started noticing it.

As others mentioned, it wasn't that quick.

It's also not accurate. After nearly a half hour the page shows "git operations" as green but I'm not able to push/pull from my repos with SSH or HTTPS (and haven't been able to the whole time).

It was updated at least 5 minutes after I noticed the outage first. Guess it's typical organisation lag

It took at least 5 minutes, closer to 10. I think the outage is so bad, it got pushed fast.