The closing of Megaupload is no one's fault but their own.  They knew the deal and the risks.  If they didn't want to be exposed to that risk then they should have taking the necessary precautions to limit that.

In my opinion there was nothing that they could do to limit that risk by their approach.  In a business logic, the best way to limit their risk is to

1. Charge a monthly subscription any breaking of the terms would mean account deactivation

2. Charge people who want to download the file a fee (if the don't have a paid membership).

This way you are able to greatly stop much of the illegal sharing of the files because paying to share illegal files pretty much goes against the purpose of sharing.  Some will still pay to share illegal files, but most won't