The existing recipes will be archived and made available, either officially or unofficially. That is not the issue.
The real issue is that, until this point, virtually every British household has been forced (and enforced, by thousands of criminal convictions every year) to fund a bland, outdated, unnecessary recipe website.
The BBC does not exist to provide generic content that pleases the masses. The BBC should not be popular.
If a service is popular, it is likely commercially viable, and should not therefore be subsidised by the license fee.