Yep they bought Pebble and then cut the loyal users adrift...
This is a fairly common misconception. Fitbit didn't buy Pebble and cut users; Pebble went out of business, and Fitbit bout some of Pebble's assets (mostly software IP), and hired a bunch of (now ex-)Pebble software people.
It wasn't a merger, or a takeover, it was a garage sale. Many people think that Pebble was a healthy company, and Fitbit killed it. The reality was that Pebble crashed and burned, sadly. What we got from Fitbit was about a year and a half of hosting service, which is about a year and a half more than the nothing we were owed.
I'm not impressed with what Fitbit has to offer, but I can't fault them for their handling of the Pebble assets.