Fortunately, Camel used a simple license file, so at least authentication won't be an issue if you have a full backup. But you can't assume it'll continue to work forever. All it takes is one propellerhead at Microsoft to make one arbitrary decision and any plugin you own could become obsolete.
Obsolescence is baked into the whole hardware/software ecosystem. SampleTank2 and Miroslav won't run on my new DAW because the vendor decided 64-bit support was only feasible with a brand-new product. I cannot re-install Adobe Audition on my new DAW, because it wants to connect to a now-nonexistent authentication server. And those are two companies that are still breathing.
Imagine, all you Waves users, if Waves suddenly went out of business and shut down their authentication server. You could only continue to use them as long as you never made any changes to nor upgraded your computer. There's even been a word coined for it: being kjaerhused. Most of you will know the origin of that word even if you haven't seen it before.
It's not just Waves, of course - they just have the most convoluted and fragile process. You are at risk with every product that uses a challenge-response authorization scheme. That includes popular favorites such as U-he, Fabfilter, Spectrasonics and Native Instruments. But not Camel Audio.
BTW, I think both points of view regarding piracy's impact on sales are valid. I've no doubt that sales would be higher if piracy could somehow be eliminated without draconian measures (e.g. iLok hurts sales). At the same time, I seriously doubt that any significant fraction of pirates would have paid for their booty if stealing hadn't been an option. It's a cultural thing, not new, and unrelated to the consumer's ability to pay. (Years ago, Microsoft caught the U.S. Air Force running millions of dollars' worth of bootleg copies of MS Office.) It's more about software being perceived as value-less because it's nonmaterial.
Either way, I don't think it has anything to do with Camel's passing. They were doing OK financially. My own (unsubstantiated) theory is that the owner (I believe it's solely owned by one person) simply decided to retire. The pending major release of Alchemy greatly enhances the value of his intellectual property, which explains the timing.
So who's the buyer? Everyone seems to assume that it's a major player in the music software scene such as Yamaha or Avid. But it could as easily be the Camel employees buying out their boss. Or some other UK- or EU-based manufacturer with cash in their pockets. G-Force, Tone2, or FXPansion would be good candidates, but probably aren't flush with cash. Focusrite?