Yep, stick a fork in it, Pirate is done.
This same company bought Dodgeintrepid.net back in 2007. It was a complete shitstorm of axing the mods and crapping on the regulars. I mentioned adblock plus after the Ad infusion and was told to retract the statement. I did not, and I was banned and the admin instead of just deleting my post went in and edited it so that read I was in support of the site and retracted my comment... The core people that made DI.net (most were banned for similar bull crap) formed LHforums.net to replace DI.net. If you go take a look at DI.net now, it is horrible. ads are all over the place, you have to register to even see any of the tech stuff.
I give Pirate until the middle of this year...(I don't think Pirate will go away, but all the people who made it awesome will, and it will never get that back.)
AJ