Crytek as a game developer crashing doesn't bother me too much - for some time now there was the prediction that the gaming market will crash like in 198something, this might be a foreshadow of this.
It would be a shame for the engine though, because many different game engines being in competition will help indie developers, and the indies, with their cheap production costs and high creativity, will be the one that shine when the AAA gaming market really collapses.