Presumably at the time of sale they had rights to it. They lost it later, but should have at least had secured rights to people who bought the damn thing.
Hiding behind hidden T&C should just straight up not be allowed. Imagine if you go to a store and any item you wanted to buy you'd have to read 20 pages on a book next to the item before you'd be able to put it in your cart, else the product producer may just at some time in the future barge into your house and destroy the item.
Would I at least refund you for stealing back that thing you cherish and have possibly watched with your family and kids many times? Absolutely. Wouldn't be able to sleep otherwise.
But I guess that's the morality speaking, and we must kill it violently for marginal profits.