The optics on "servers are down due to a massive spike in volume" are much better than "Coinbase had another round of layoffs today..."

Currently they are signing people up at a dramatic rate despite their server issues. If they start laying people off because they spun up to fast they could start a panic that would kill them.

They have to weigh all of this in when deciding on an infrastructure spend.

I would also like to think from a purely personal level that they don't want to hire and fire people like that as these are real people with real families involved.