I'm sure there will be endless recriminations of how 365 main failed to test the power backup.
But the more interesting thing to me is how Sixapart is handling the crisis. First off, sixapart owns Livejournal and Typepad. Both services are completely down because they are single homed in the same datacenter.
Sixapart's recovery strategy seems to be: Recover Typepad, then (eventually) recover Livejournal. This is evidenced by their status page:

Given that Livejournal is a second class citizen to Sixapart compared to Typepad, how can people justify giving Sixapart money? Furthermore, clearly Sixapart doesn't have the tech staff to bring both services up at once.
Of course, maybe they just didn't update their status page, in which case, this outlines the danger of not updating your status page - someone you don't know on the internet will assume the worst.