I don't think this was a cost-cutting measure. Instead, (automatic) cut-off devices are also systems that can fail. And if there is such a centralized device, it can nullify the hard work of 4 redundant power supplies if it "decides" to malfunction one day. So, this was a SPOF-cutting measure. I still think that having 4 separate switches for 4 power supplies is not so wrong. Firefighters anyway wrote that the electrical room had a door at 400C and observed 1-meter arcs, so they had to ask the electrical company to cut the power from their side for the sake of safety anyway.