They didn't quite fire everyone: Alan Coopersmith (https://twitter.com/alanc/status/904366563976896512) is still present.
I'm sure lots of support and bug fixes will be neglected and probably moved offshore though.
Also, it certainly seems like Oracle Solaris 11.3 (released in fall 2015) will be the last publicly available version. Between-release updates (SRUs) have always been for paying customers only, but now it seems like there will never be another release.
My comment was a joke, obviously. However, it's not that difficult to provide that kind of support and bugfixing. It's not like developing something new.