This Twitter drama is strikingly similar to Freenode. A rich guy bought it, people started moving to Libera.chat in small numbers and advertising their new channel on Freenode in the topic. There wasn't a huge exodus, though.

Then this new owner started taking over channels and kicking everyone out that had mention of a Libera.chat channel in its topic, forcing everyone to move all at once.

I haven't heard of anyone still on Freenode since then.