Re: One thing missing...
Their always-on-infrastructure isn't perfect, but it is close enough that outages constitute major international news.
Yes, on Azure's part, almost MONTHLY outages of some kind ... IBM's cloud, on the other had seems quite stable ... admittedly, it does not have as many customers ... but, when Microsoft has to reboot each and every system every month for the system patches, some of which bork the underlying OS every now and then, well .... they cannot compete, unless they throw more hardware at the problem ... and that means that if they want to remain competitive, they have make a loss ... I am pretty sure Azure, as a whole, is a major loss-maker for MS, however, their on-premise licensing cashcow keep it well hidden from the public.
That, and, no matter how hard they try, every other year now, used to be every year, they fail to renew some certs ... ;-)