Security incidents are going to happen. This particular incident looks to be avoidable (static passwords!). What we should judge the company on is their response and transparency. GoDaddy disclosed, but a new customer on the site wouldn't find this. They also used phrases like "affects our Legacy WordPress Platform" probably to attempt to shift a little blame from the current team or minimize the fall out.
When you have a security incident, be transparent, own it, and deal with it. We can tell when you are trying to sweep it under the rug and hide, and that's bad. This is an opportunity for an org to show that they put customers first and shine.