How is "companies stop doing business with other companies they don't think it's in their interest doing business with" a new thing that now the door is being opened for? It's happening all the time, and the right to do so is reserved in pretty much any terms of service document ever. It's truly weird how some seem to now see this as some new development one suddenly has to worry about.
No, you are so totally wrong. When I want to book an appointment with my doctor, I use an app hosted on Amazon. When I am in lockdown and I want to ask a friend to bring me food, I use WhatApp. When I need to request a tax refund, I use the Tax Dept app that is hosted on Google Cloud. These are not companies anymore - they are critical civil infrastructure. If you don't believe me, just try not using any of them for a month. Imagine if the water company shuts off all service to your house and there is no alternative. They are a private company - should they have no responsibility to give you water or sewage. Such a narrow view...