It's not fair to dismiss all WordPress hosts by saying they don't actually provide the 24/7 support they claim to, or aren't actually experts. That's the primary reason I use WP Engine. They help right away when something goes wrong. Not with just a response, but with actual help moving me towards a solution. And yes, they are technically competent.

If my site goes down for 24 hours, let alone a few days, because I'm waiting for help or can't fix it myself, I've more than lost the money I would have spent on a month of hosting.

If Google provides cheap hosting and a slick interface that anyone can use, that would be awesome, but there will always be a place for premium services. Some webmasters, myself included, want to spend their time doing what they do best, and let someone else manage the hosting, backups, security, performance, etc.

Not everyone is a bozo wasting their money like you make it seem. There is a reason people pay, and will continue to pay, for premium services.