Yes, and they also say that if you're hitting quotas, you can try another less congested region. If you have established workloads in a region though, I'm not sure how quickly you can migrate a complex interplay of services to another region-- are there simple tools to do so in Azure?
I doubt they’re talking about their compute services. The increases are more likely in Microsoft teams and Office 365. And as far as I know you can’t choose a region for those services.