The end of an MMO is a strange thing to contemplate. On the one hand, it's like closing a bar or a coffee shop, a place where lots of people spend a lot of their free time. It must feel very strange to suddenly be unable to go somewhere you're used to spending several hours a day visiting. There's also the narrative side of the event, though: all MMO's tell a story, one that is intended to be continuing, but the staff is now tasked with bringing that story to an end. As you can imagine, sometimes the plug is simply pulled at midnight with no resolution or climax, but occasionally you'll have a staff and clientele sufficiently invested in the story that the cataclysm seems to convey everyone's emotions in the game's final moments.
So it goes with the Matrix Online.