Because it didn't owe them the amount in kind, it was a dollar denominated amount at the time of bankruptcy (when crypto was low). The victims may not have lost everything but they are far from whole.
To be clear I’m not trying to victim blame here, it’s just that if people actually understood what they were buying then they would have known this. FTX, and indeed all legally incorporated companies in the crypto space, are greedy scumbags antithetical to the entire purpose of crypto.