On AWS you should be prepared for an instance to disappear at any time, for any reason. Why is a scheduled reboot such a big deal?
That's true, but how many services get this right in practice? It's not easy to ensure all instances will perform well in case of failover. A lot of apps are running on a single instance and depend on Amazon's fairly good track record.
If you are relying on a single instance and depending on Amazon's track record, you're doing it wrong.