I also thought there was a decent chance the entire product would just die irrecoverably, and that hasn't happened (although of course there might have been near misses we don't know about). I must admit I'm surprised how well it still seems to run, on the whole.

I think it's still an open question whether the business is damaged irrecoverably. I guess now they don't have the same reporting requirements, as a private company, but everything I've read suggests they're losing as much money as ever.

Although... you can certainly imagine a world where they both avoided infrastructure-death and managed to sustain the business (not pissing off advertisers, not pissing off power users, no pointless rebrands, etc).