Valid point but there's nothing stopping you setting up your own VPN (either on a small VM from someone like Linode or, if you're paranoid enough, a cheap 1U server bought off ebay and placed in a colo facility).
For the single point of failure issue (which is also valid)... just setup two or more VPNs :) And, in an emergency, you can always fall back to the underlying connection.
Setting up your own VPN does not solve the traceability problem, unless you happen to find a colo facility that does business in face-to-face cash transactions only.
If you use Linode to set up a VPN, Linode knows your personal and Linode IP, knows when you access their network, and knows your name and billing info. If compelling by warrant they will turn that over to law enforcement.
For the single point of failure issue (which is also valid)... just setup two or more VPNs :) And, in an emergency, you can always fall back to the underlying connection.