They were hacked and user data was stolen, they're also under a DDoS attack.
All the reports I've seen seem to indicate that the archive data is safe, just publicly inaccessible ATM.
I wouldn't say it's the end of an era, but also standing up "an archive of Web Archive" is going to be impractical unless someone has a couple million to burn. Last I saw they stood at 40 PBs (Yes, Petabytes, or 40,000 TBs)