People get credits for 'outages', but if it is sometimes working for someone somewhere then that is the convenient fiction/loophole a lot of companies use.
It wasn't a happy workplace
Green Check with (i) notice
Red - Entire services are down
Orange - Partial outage of services, some functionality completely down
Yellow - Functionality performance degraded and may timeout/fail, but may also work
Greed - Situation normal
Green - Situation normal
Yellow - An outage more severe than usual
Orange, Red - would trigger SLAs, so not possible and therefore not implemented
Black - Status page down too, served from cache, renders as Green
If certain functions of the service are completely unresponsive, i.e. close to 100% failure rate, that's not "degraded performance"---it's a service outage.