No Surprise Here
What were they expecting? The "new/knowledge" economy has basically been propped up by the overvalued IT industry - in fact the IT industry (including "the Internet Bubble") helped push the "new economy" forward.
The unfortunate part is that IT has been overvalued from day one: for the same reasons that people bitch about high-real estate prices, and demand they come down to a reasonable level; businesses have been saying the IT people/stuff are too expensive and have to come down to a reasonable level. We're all playing the same game you know.
NetApp is experiencing a market correction and we've all played a part in this required correction... We all demand higher wages while we are making too much money on the backs of every person with a retirement account (cause that's who is paying for this mess).
It all sucks, but after the changes are over and lots of people have had their heads brought out of the clouds we can do it all again! Capitalist societies depend on people being able to "swap classes" and this is how its designed to work, by rearranging who is in which class. We'll see if it works this time, it always has in the past...