Earlier quoted context omitted.
Low end hosting doesn't generally have backups, because it's well, cheap. Extra overheads make the price increase, then you're not cheap and can't compete at that end. Usually there are backup options included in the plan for upsell possibilities with these kinds of providers. Really, you should not expect a service that has 'cheap' in the name to offer any kind of backup.
Furthermore, is Namecheap authorized to copy their clients' data by their terms of service? If not, automatic backups may bypass totally-reasonable expectations that other users have. Backups can potentially be a threat vector, for example. There might be many reasons why one of Namecheap's clients might say "you copied this data?! and now I have no control of the environment the backup lives in?!"... An example woul…
In reality though, more companies do this than should be allowed. I worked for an ISP in a previous life and even on the super cheap shared hosting there were companies that were making a decent turnover and then using the cheapest possible hosting for their email/site. The quantity of these companies was a significant number too.
Especially when they were kicking off on the phone due to inevitable maintenance/downtime. Trying to appease customers that turn over 10 million a year and pay £5 a month for hosting is a bit wtf. You pay for what you get... that's no different in hosting.