Interesting read and I feel sorry for the guy and his co workers, but there is worse. Games getting canned and people being laid off for good, as opposed to a game that was at least finished (or let's better say "released"
) and a studio including its employees being picked up by a bigger company.
Although the whole development sounded like an ordeal, this is just one, personal take on it, so I guess you should take it with a grain of salt.