Probably not true for " This saved costs ". From what i've seen, virtual machines usually cost more than twice the price of renting the equivalent "real" machine monthly.
They could have used dedicated servers; there are more dedicated server providers than VM providers, thus achieving the same goal, less expensively.
Probably not true for " better uptime " either; VMs are still hosted on real hardware, which fails, too. (Although distributing the work on more independent machines can improve uptime.)