I think the situation here is that we're talking about *mostly reliable* providers. If you have two of these, and they're not correlated, then the probability of them both being down at the same time is extremely low.
I agree that VM do sometimes have systematic faults that affect a large area, but Openreach do too. It shouldn't rule out using VM as a backup provider.
*Any* backup provider will increase your reliability. Even if your backup provider only has 90% uptime, then it increases your overall uptime by a factor of 10: i.e. the chance of losing connectivity completely is reduced by a factor of 10. I think even Virgin are better than that though