I'm not going to go too deeply into speculative scenarios, but all kinds of business-interrupting calamities are possible with very low probability. We just had the story on the frontpage about the Juniper backdoor; do you think S3 isn't being targeted by multiple state intelligence agencies?
Basically I agree with https://news.ycombinator.com/item?id=10772321 - by all means keep the working copy online, but have a local offline backup.
How absurd was it that money market funds would fall below $1 during the recent unpleasantness ? It was so unthinkable that major parts of our entire global economy were predicated upon it never happening.
It happened.
Money markets are even more "serious business" than Amazon, or even all of tech is, and had even more big brains attesting to their inability to fail. They failed.
That's absurdly unlikely to happen with S3.