There were at least two events during the downtime that were directly affected by this, but were able to secure a backup server to allow the events to progress without interruption. Surely you can arrange a backup on a different provider, or in extreme emergency, someone who has a fast AND stable connection to host a server on their machine?
500servers has been the most reliable / best provider for a while in LFS, the troubles are fairly recent in relative terms. Other providers have come and gone, had quirks / issues / etc that are deal-breakers, or are too expensive.
If you want better uptime, generally you have to pay more for the required hardware / people. It comes back to "you get what you pay for" and to be honest, it's rare that any of my events have been cancelled or postponed due to server issues, and only a small bit more common that the server issue forces a red flag to allow people to reconnect and rejoin.