Except this happens every year, during storms, during heat waves, during cold snaps. If it were just a one-off event it might be able to be waved away, but a pattern of failure is emerging.
Whether the storm was projected to hit as hard or not doesn't really matter, tropical storms and hurricanes are not some new event in that area of Texas, yet the state and local governments seem utterly unprepared. It was only a year or two ago that basically the exact same thing happened, and apparently nothing was done about it to shore up their services. It's an inefficiency of the private sector, they're not capable of providing vital services because their primary motivation is not reliability and efficiency, it's profit and cost cutting.
You don't see this happening in other states with the same frequency. I've never had the grid where I am fail, and we get both extreme heat and cold and occasional tropical storms.
This is exactly what people were warned about with "games as a service" nonsense. No one wanted to listen.
They wouldn't be doing it if there wasn't a plan to get consumers to be paying more in the end.