I have been going to Big E's events since I can remember. Any dealings I've had with him have always been straightforward and constructive. I've also met 16bit and Pig several times at tournaments, and my experiences with them have always been extremely pleasant. So now what?...
Whatever is going on is between the parties involved, as none of us know the full/real story. Whether or not I agree with it, it is perfectly within the TO's rights to ban whoever they want from their events for any reason. If everyone has a huge problem with that, then people are free to "vote with their wallet" and not support the tournament. Don't attend, don't watch the stream. Anyone with the dedication is also free to start their own tournament series if they believe they can do a good job.
It is a shame that these great events may now not feature these top-tier talents, but I don't believe there is anything to gain from having this (or any) community boycott any tournament because of a handful of players. Personally, I will continue to attend Big E's tournaments. They're always a good time, and in my personal experience (not speaking for anyone else here), my dealings with the man have always been more than fair.