That's quite accurate. I've returned to WLO just out of curiosity to observe the scale of disaster at the end of April, and actually I felt like playing again. The dupe is bad and stuff, but since I was done with WLO many years ago, now game appear to me as a sort of sandbox mode. I have to say I love sandbox type of games and having all this 'dupe' kind of freedom made me feel like experimenting and keep playing. Also the servers come to life once again for a period and I saw many newcomers roaming around, asking for quest help, seeking for bursting party, trading items and so on. Totally felt like game is alive. And then the fix and empty servers and you know the rest.
Of course, as many people have pointed before, as IGG has started to lose income the game server might be actually in danger of shutting down. In my case, I wouldn't mind to pay monthly subscription fee or donations if it would come to keep it up. But right now it's hardly can be affordable to buy 100500 stacks of eggs and pet food just for experimenting with different pets and builds and elements.
So my twisted opinion on the matters at hand is that fix was not necessary at given time, as IGG failed to fix glitch 'outbreak' fast enough, ban abusers, rollback and all this rightful stuff. And it still ignores the consequences to the game economy. There were more elegant solution out of this mess, for example by making game p2p/donation etc.