You can't entirely blame the providers for only caring about money; the consumers that choose the budget hosting options for critical applications must surely share some of it.
Server grade hardware is certainly available to cloud/VPS providers, but it turns out people are unwilling to pay $2 for a VM if there's one going elsewhere for $1.50.
"the consumers that choose the budget hosting options for critical applications must surely share some of it."
The customers expect the RAM they bought to work correctly. They might have even read papers on ASIC verification where the hardware companies brag about all these techniques they use to prevent recalls like one Intel had. The issue is that the companies stopped doing or reduced verification on specific components to reduce costs. What they bring in on the chips is way more than it takes to do that. So, the reason must be greed driving the profits up a little bit.
This one is the companies' fault. I'd have assigned blame differently if we were talking security of regular, consumer products or even operating systems. Verification of repeating pieces of hardware circuits is an industry-standard practice, though. Except for RAM providers apparently.
Server grade hardware is certainly available to cloud/VPS providers, but it turns out people are unwilling to pay $2 for a VM if there's one going elsewhere for $1.50.