Earlier quoted context omitted.
Not against Spectre, which can extract any memory via javascript or user applications. Eg your secret keys or passwords
Spectre is a much more serious bug I feel, but it requires the VM to run the malicious code snippet inside itself and with the right context, not from other guest VM, that is how I understand this. The kinda bug that would totally destroy cloud as a business is the one that other guest VM can read your memory...which doesn't seem like to be the case, for now...
Meltdown on the other hand can do everything. But only on Intel.