If anyone really believes that his Joeyness is gone for good as a result of this, they're nuts.
Give it a year, maybe two and he'll resurface like some mythical creature that can regrow its own head (or maybe ass in his case) and be quietly back in business under a slightly different yet completely recognizable and snarky name.
Maybe we'll even get the original Joey who just wanted to make cool LC parts and support the community, and not the overwhelmed desperate Joey who made some pretty bad decisions...
Either way, there's NO way he's going to let his IP fall into others hands.