Given that people on reddit claimed that in the entirety of New Zealand no real estate transactions can be settled, causing cascading failures [1]...
I think this might actually be the incident pushing governments to designate large online services such as MS 365, Gmail et al as critical infrastructure and force companies to massive, yet-unseen levels of transparency and regulation.
The EU is already itching to act ever since the Trump admin forced US Big Tech to terminate service to the ICC judges, and this here was a square own goal for Microsoft.
[1] https://www.reddit.com/r/sysadmin/comments/1xus565/comment/1...
That's not to excuse incompetence or whatever, just to note that the benefit of software is precisely how easy it is to change, which will always lead to more problems.
I remember a power outage in 2003 that knocked out power for 55 million people and took over a week to restore in many places.
Note that buggy software was a major contributing factor! The software was designed to, and would have, detected a deteriorating system an hour before anything broke, if not for a certain bug which caused the whole monitoring system to display stale data and then crash, including the redundant backup. This wasn't the only problem by far, but it was one layer of swiss cheese.
Until the cost is mentioned. People love free or nearly free software.
My bet is we'll eventually get there. Planes kill people when they fall, software used to not be as dangerous, but it's been a while since it became critical infrastructure.