Couldn't agree more with most of your points. Almost everybody defaults to assuming their broken Wordpress install is the provider's fault. I'm not sure that I agree with any company being beyond mistakes.
Try not thinking of it as being "beyond mistakes"; try to think of it as "not having the luxury of being treated like a startup".
What would your visceral response be to a brand new bank that makes the news because it got robbed due to faulty locks, and oh-by-the-way they haven't gotten around to being insured yet? Is it fair that a bank is held to different standards than Mom & Pop's Corner Shoppe?
For most people -- maybe just about everybody -- a hosting company is the online equivalent of a bank. And that's totally fair.