Not to sound flippant, but the key words there are "used to".
Like you said, it got bought out by a major corporation and now they're making a business decision (one I'm sure they've done their due diligence on before announcing).
I get that folks are upset about the loss of a potential site as a creator but with revised IP laws coming and the loss of revenue streams due to that content on site...I think we all better get ready for MORE of this, not less.