And what ethical standard do you see broken here?
Ning provided a service, has realized that it's not financially feasable, and in the interest of (I presume) their owners/shareholders have decided to discontinue that service. They're allowing groups to continue using the service for a fee if they so desire.
Personal responsibility means weighing the pros/cons of trusting services to "the cloud". It's why there are a few things I still run on a machine in my basement, rather than move to an online provider, even though it could be cheaper for me. It's why I actively back up important documents (and yes, photos) to more than one location.