And further the beancounters don't understand the risk.
A cloud provider with a bazillion tenants has an average of near zero downtime. But amongst that bazillion, there are tenants that are degraded for hours or days. If you count your average uptime by tenant (regardless of size), a large tenant down is the same as a small tenant down - effectively a rounding error.
But what if it's you?
Beancounters need to look at not the change they will hit an outage, but the impact of the outage when it inevitably hits them. How would they cope with a week's outage? Or a permanent loss of data (like AWS-E tenants sufferred last week)? Does that mean an on-prem backup solution is required? How much would that cost? (egress is expensive). How long would it take to deploy? Can it even be deployed?
It's surely just a matter of time before cloud ransomware.