However, if a few clever folks reverse engineered the game and ran it privately for their own entertainments that is their business. They owe no one else anything.
You don't have the details of the situation. Yes, I know this is /. but TFS doesn't mention the important part. The server wasn't running reverse-engineered code.
Shortly before NCsoft shut it down, someone contacted a guy who was involved in the CoH community, and leaked him a copy of the source code (with the soon-to-be-released except-it-never-was Issue 24 beta stuff), including a copy of the game database. It seems that the devs used a single database for both NPC/mission information and live player characters, and possibly also the player payment information too! What would you do if that happened to you? Find a way to leak it to others with plausible deniability, or sit on it?
So guy gets a server running in a few months, but keeps it quiet. If people try to leak its existence, he goes up the chain of invites to issue bans to whoever invited him and he invited. He also maintains his wall of silence by being a reddit mod, even adding private server references to the subreddit's automatic shadow ban list. During this time he starts adding his own mods, so the "we need to keep it quiet until it's working right" arguments don't hold. There were attempts to reverse engineer the protocol (something called Paragon Chat), but that was basically chat-only, and guy would poach devs from that project, keeping it from getting anywhere.
Finally someone manages to leak the existence of the private server, and the fecal matter hits the rotary impeller. This leads to the original (i24) code and eventually a redacted database being released. Oh yeah, about that database. For some reason the guy never saved the original leaked copy of the database, so all he had was one that only worked with his own code mods. This all has been in only the past few days, but the eventual goal is to un-fuck the database so that it can work with the original Issue 24 code.
The "I like the rest of you have been lied to" quote in TFS refers to someone discovering that a leaked copy of the original source code had been used to run a private server for almost six years!