I have a very good excuse for NOT hosting my site on "a CDN": one CDN is a central point of failure. Instead I host it on 3 geographically redundant dumb servers from 3 different hosting providers (and all my DNS records resolve to 3 IPs.) As a result my site has had 100% uptime since its deployment years ago, despite many individual outages at these hosters. There has also been multiple occurrences where an entire swath of the web was down because of outage at $CDN, while my site was chugging along just fine.
I think the most likely outage I might encounter would be due to operator error, eg. accidentally pushing a bad web server config to my 3 servers.
More details: http://blog.zorinaq.com/release-of-hablog-and-new-design/