Airbnb owners can and do cancel reservations. Life happens and unexpected repairs may be needed or they may have to leave town. If this happens, there is no option but to rebook with a different owner If another property is available. I do not feel that Airbnb is necessarily a safer option in all cases.
Only some Airbnb listers offer a flexible cancellation policy. Owners have 5 choices regarding their refund policy from flexible to strict with 3 other options in between. I also avoid booking with people that have chosen a strict no cancel/no refund policy. I feel that owners who are willing to work with me if I have an emergency are worth supporting with my business.
i know someone who was scammed using VRBO. They found out just after paying the deposit and was able to add Vrbo’s insurance after they discovered the scam which reimbursed them for the loss.