I'm sure other commenters will put it much better than I could, but for those people that use CentOS for the purpose of a stable long term release, surely it is dead. The distribution now being called "CentOS" is almost at the opposite ends of the scale in terms of stability. The fact they've called this other thing the same name is purely marketing.

If you destroy something then create something entirely different with the same name then the fact remains that you still destroyed the original thing. That's not dramatising or hyperbole.