Looks like Moisey Uretsky personally intervened fairly quickly: https://twitter.com/moiseyuretsky/status/1134547532149854208 That said, any company, especially one working with Fortune 500's, should have DB backups in at least two places. If they'd had the data, they could have spun up their service on a different hosting provider relatively easily.
Having backups in two places could easily triple the hosting costs. The question is what costs more. Eg. Losing data vs backup costs.
Literally just push a postgres dump to S3 (or any other storage provider) once a night as a "just in case something stupid happens with my primary cloud provider". It'd take a couple hours tops to set up and cost next to nothing.