Something doesn't add up here. It's like they bought a house, started renting it, and when being a landlord got boring, burned it down.
When you start a service and sign on customers, you take on a responsibility to keep that service going. Even if that means selling it or passing it on when you can't carry the torch yourself.
I disagree. You don't "take on a responsibility to keep that service going", Google can shut down Wave. Apple can shut down Ping. IBM can stop selling computers. Oracle can stop creating OpenSolaris. Companies (and individuals) have the right to make long-term decisions about what they want to do day-to-day.
Seems this company did more for their customers than most do. They didn't just shut the doors one day. They didn't lock in the user data and make it impossible to get. They made one of the toughest decisions to make - shutting a mildly profitable service. It's easier to shut it down if it's losing money.
You have a responsibility to let your customers know in advance that you will be shutting down, but not to keep the service going.
You have a responsibility to your employees and anyone else that works for the company to do not harm their livelihood. Running a service that continues to waste money can eventually put the company out of business.
When you start a service and sign on customers, you take on a responsibility to keep that service going. Even if that means selling it or passing it on when you can't carry the torch yourself.