The odd thing I've personally witnessed playing out, though, is that whenever Microsoft has an outage (and they often do!) -- companies will let operations grind to a halt without much complaint. There's that understanding/acceptance that "if Microsoft is broken right now, it's affecting a LOT of people besides just us and all we can do is wait for them to fix it". This same downtime would have had the company thrown into a panic, with top execs breathing down the necks of everyone in I.T. and demanding updates every 10 minutes on the situation.
It's usually their own I.T. complaining louder than anyone else about the Microsoft cloud outages!
This is two fold. At my _current_ company, that's absolutely the outlook. I put out an announcement that (say) Teams is having a problem, everyone grumbles, I'll hear a couple "fuckin' Microsoft"s, but people thank me for telling them. I keep a close eye on things and let everyone know the minute service is restored.
At a previous job, I fought tooth and nail about going from on-prem to O365 (and it was much earlier in 365's history) because that culture was the OPPOSITE of that - if there was a cloud service problem they would have completely expected me or my team to "call Microsoft" and get the problem fixed. (You know, because of all the leverage we would have had with them. /s) We figured if it was going to be our ass in a sling we might as well run the services ourselves. That way, we could make them as bulletproof and redundant as we could afford, and at least if something broke and we got yelled at, it was something we could solve.