I wondered what had happened to Winamp... A shame in a way, although, as one of the commenters says "it's not about the product it's about the people". The only real losers are AOL. I'm sure Frankel and the others were quite happy with their shares of the $100m purchase price, right in the middle of the boom. And the fact that their next idea was Gnutella (didn't know that) means that they clearly aren't one-trick ponies.
Score one for the little co. nerds, I'd say: for knowing that time is a significant component of software's value (after all, it has no material value), and for having the confidence to flog a massive idea, secure in the knowledge that they'll have more ideas so no need to clutch this one.