The public cloud reality is much different than the hype. You only get from the public cloud what you bring to it. You need to bring your own security, performance monitoring, knowledge, and expertise.
Public Cloud SLA’s are worthless. They need to be replaced by metrics that measure the responsiveness of what the cloud provider owns to the layer of software from the customer running in the cloud. Developing these metrics will require significant changes to existing APM approaches in order to be able to separate time spent in the application from time spent in the application framework or OS.