How could they feasibly do anything else? What do you think happens to your Facebook gifts if the company goes out of business? I bet their terms of service don't include shipping you physical strips of bacon to replace the virtual ones you lose.
Going out of business is different than just saying "we won't honor the purchase you made anymore".
It's always a choice. Going out of business is a choice, selling the company is a choice, and the acquiring company shutting down the acquired company's product is a choice. Any way you slice it, no matter what the circumstances, someone made a choice not to honor your purchase anymore, if that's the way you want to describe it.