He’s thrilled because it’s good for him, not for the users.
Any venture funded product has a sword of Damocles over its head. After acquisition the company product is much less likely to be shut down in the long run (unless it’s Google).
With Google, everything has a huge chance of being shutdown, unless its Gmail or Search, but in both of those cases they will also continue to get worse over time.
This sounds like a win for users.