Let's say for argument's sake it does go to the guest. What does $1,000 whenever Airbnb decides to credit your account, help you when you're stranded. I can only assume Airbnb pockets the fee because nowhere in their documentation do they state the guest receives the money, otherwise they would outright state it.

I had this situation come up like twice over here in Europe. In both cases Airbnb offered to assist with an alternative place to stay (one time taken one time declined) and in both cases provided me with credit of about the worth of the original stay