He clearly was profiting from crime. Anyone with morals would be disgusted and anyone using the service thinking they're trying to keep it open should be disgusted too and he should be in jail.
I don't know about in your backward sounding country; but in the UK if a jury decides that a person is 'not guilty' then it has been decided they have not committed a crime. This may be an unusual system to you, but it is what is called the Justice System in the UK - other countries may not like it but it kind of suits us.
As he has now been cleared of a crime - anyone in the UK (and possibly elsewhere) implying he is a criminal is open to be sued - he will also be able to keep any profits made.
As the first case against bittorent use in the UK, this stands as a common sense outcome decided by the jury.