Remember the interface between the vm and hypervisor is standardised and it is running many other functionaly identical vms. Also remember that platform they are running on is usually homogeneous, very well maintained, monitored, and understood.
Also keep in mind that with 'hardware issues' you can reploy onto another machine in minutes, rather then having to wait for say a replacement part from dell/etc. Your standard procedures should come into play in both cases (Failing to a secondary server, bringing a tertiary server into standby, etc.)
Remember the interface between the vm and hypervisor is standardised and it is running many other functionaly identical vms. Also remember that platform they are running on is usually homogeneous, very well maintained, monitored, and understood.
Also keep in mind that with 'hardware issues' you can reploy onto another machine in minutes, rather then having to wait for say a replacement part from dell/etc. Your standard procedures should come into play in both cases (Failing to a secondary server, bringing a tertiary server into standby, etc.)