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Today is sounding like one hell of an incentive.
Why?

Do they lose any significant number of customers? Do anybody in leadership get fired?

Do reading the twitter status updates give you the impression of an organization that takes responsibility seriously?

Or do it sound more like an organization that is optimized for evaporating responsibility?

I think this will change nothing.

Well, at the very least there's going to be a lot of people pointing at their broken SLAs.

>Do reading the twitter status updates give you the impression of an organization that takes responsibility seriously?

Not implying otherwise, to be clear. Very far from defending MS.

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And why would it? Most people using Microsoft 365 have bullshit jobs anyway. All they do is performative. They are not productive, with or without access to their e-mail and calendar. It doesn't make a real difference.
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Seriously, who will change provider because of this? Our institution is so brainwashed and hidebound to Microsoft it would take a lot more than this. It seems like an abusive relationship: the bad times just increase fear generally, so make change less likely.
It's the same with AWS, Cloudflare. There is also this weird effect, often commented on here, where if half the Internet is down, everyone understands when you are down. If I use some random new start up for my infrastructure or services, and it goes down, customers and executives are furious. So it seems we are stuck here.
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It might not force a change away, but it definitely reduces the chance of people switching to them.
I think what it will mostly do is hardening existing customers anti-cloud stance. There already was big reluctance by many enterprises to switch to Exchange Online and New Outlook due to lack of feature parity and control, to the degree that Exchange Server SE became a product (with support until at least 2035) and Classic Outlook is still the prescribed Outlook variant in many organizations (with support until at least 2029). I also know of some customers, which migrated back from Exchange Online to on-premise Exchange Server because they were so unsatisfied with it.

This will only make it harder for Microsoft to pull all customers to their cloud offerings. I think in general that's a significant blow to SaaS-ification of the field.

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I suspect people will take it in their stride. What would happen after a month long outage is another question.