End of the day, if capitalism is the argument for why itch.io gave up without a fight, it's also the reason I can comfortably say- tough luck, I'm taking my business elsewhere (permanently).
Reliability (and of course, having an actual product) is king, and in this case itch.io has demonstrated it is not a reliable platform - not for its devs, not for its consumers- and it has delisted games from peoples libraries, to boot. Why would anyone ever use a service after such a scandal?
And such a "merciless" capitalistic response is natural, as well. Why should customers or devs impacted feel any loyalty or solidarity towards the site which screwed them over in a big way?