OP stated the sponsor pulled the box after they no longer wanted to support freenode. How would the former staff have handled that more professionally? Begging the sponsor not revoke access?

If I were a sponsor who found out a project I was donating resources to was taken over under questionable circumstances by someone with deep pockets I'd have done the same.

Yeah, you're right. I guess it wasn't up to the volunteers; sorry.

It wasn't a very nice move by the sponsor to yank support without giving any notice – usually you'd get a week, or 30 days, or something – but it sounds like no one had any obligations to.

I recall just a few months ago when Amazon yanked the plug on hosting a company's infra with little more than 24hrs notice.

So I guess that's precedence for something like that, and yet, that company held a contract with Amazon to host their infra.... no such scenario in this case ;)

There was substantially more than 24 hrs ... amzn sent several communications to Parler explaining their issues with what Parler was (or was not doing). The final communication had a 24hr deadline.

It would not have collapsed at all. It simply disappeared because the sponsor of it was a sponsor of freenode, and didn't want to be a sponsor of Andrew Lee. This is entirely up to them and their decision, it is their box, their money.

If you're being paid, sure. But volunteers are allowed to withdraw their support at any point in time for any reason under the sun. They have exactly zero obligation to anyone but themselves.