It was a user driven site. The users provided much of the value. The users were pissed off. The users struck back. Now the business is scared. What's the problem?
How is there value if the owners of the site aren't making any money? If I had someone who came into my store every day and did nothing but talk with his buddies without buying anything, then I sure as hell would kick him out to the curb. That's what's happening, and everyone is surprised? Web site lets people run amok for years, then decides to rebuild into something that makes money for the VC's. Big deal. Go find another playground to loiter around in.