At one level I shouldn't care. The VCs burn the money, the users make a bad choice to rely on something that will inevitably disappear when the profit-seeking crunch comes, not my problem.

But it's unfortunately for all of us because all this human energy (from users, developers) that gets wasted over and over on doomed-to-fail proprietary solutions could be so much better spent on developing, using and promoting open source distributed solutions that can stand the test of time.