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This feels like a discussion that could sorely use some numbers.

What are good examples of

>a small business running a few websites with a few million hits per month, it might be cheaper and easier to colocate a few servers and hire a few DevOps or old-school sysadmins to administer the infrastructure.

and how often do they go down?

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depends I guess, I am running on-prem workstation for our DWH. So far in 2 years it went down minutes at the time, when I decided to do so, because of hardware updates. I have no idea where this narrative came from, but usually hardware you have is very reliable and doesn't turn off every 15 minutes.

Heck, I use old T430 for my home server and still it doesn't go down on completely random occasions (but thats very simplified example, I know)

But was it always accessible from the internet, and serving requests in an acceptable amount of time?

The one in work yes, but for internal network, as we are not exposed to internet. But to be honest, we are probably one of few companies that make priority that there is always electricity and internet in the office (with UPS, electricity generator, multiple internet providers).

No idea what are the standards for other companies.

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