While that would be worse, being acquired doesn't have to be the only choice. The main reason everyone liked Bandcamp is its independence. That independence translated into an excellent marketplace which was great for users and artists. The preference is that Bandcamp continues to be Bandcamp, not part of an umbrella.

Hope that explains it a bit. I'm quite sad and pessimistic about this. We'll see how well our reactions fare in about 2-3 years.