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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.

Pointing at SLAs does nothing. Maybe they'll issue a discount or two. Getting rid of Microsoft in a corporate setting is close to impossible.
The main problem to get rid of Microsoft, is how they sold their services in the past more related to regulated environments. I worked at a place where we're using Google tools but with AWS as cloud provider, then one time we need to decide which tools we should continue use, the choices were Google and Microsoft. Microsoft won because they already had at the time the better auditable tools to track any single event across them which Google lack up to a certain point, we kept at least AWS though
Many things change if the next generations will select another service because they have a bad impression (correct or not) about something.

Did you personally select anything IBM lately? At some point many years ago, people were saying "Getting rid of IBM in a corporate setting is close to impossible.

Actually it is about the perceived risk distribution within an org, not really about the quality of the product. "No one got fired for buying an IBM" directly tells the decision maker that their risk of getting questioned internally is low due to the brand reputation of IBM. It's a play on risk.
I wonder if clients will take to court for damages/liability?
I imagine there is some kind of arbitration included in the service
No. That is contracted out.