"we will never be able to avoid outages entirely"
No, you won't. Because I understand that cloud is complicated. The amount of data, the bandwidth requirements, along with the security requirements, I genuinely believe that the people who have imagined, planned, specced and built this are largely above-average in intelligence and competence.
But, as I have said before and will not stop saying, when a company's local server falls, it only bothers the company and its customers. When The Cloud (TM) falls over, it impacts millions of people and businesses.
It's okay though. We're still learning this computing thing. One day, we'll get the message : never build a single point of failure into your IT infrastructure.
I don't know how that will pan out, but that's what we've got to do.