I'd like to believe the engineers running Google Photos or iCloud are spending a lot more time on keeping my photos secure and available than I would be willing to put into a server running in my basement.

In the case of a business hiring an MSP to manage something complex like firewalls, Active Directory, server patching, then sure it's reasonable to assume that if they made a mistake, the impact would be equivalent to you making the mistake yourself.

It's possible you need to tell whomever you are reporting to for these post-mortems, they should be outsourcing to reputable service providers in order to free up time and man-hours, not necessarily just to save financially. I suspect that is the real problem.

Big Hint: AWS has had something like 5 times the downtime my biggest clients on-prem datacenters have had this year. So...no, the FAANG engineers aren't doing better than my clients.