Unfortunately you're right :((
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confusionlord, Mehul sold the game for something of a 6 figure amount. Jolt tried keeping the old code running but, more or less failed. The old code was very vulnerable to DoS attacks which somebody did and sent the game down for weeks.
During this time Sean and Brian were bringing the code up to current standards. After about 9 months, there were still a lot of bugs but the new code was pressed into service because of the above. Somewhere around here Jolt and whoever now controls Jolt, decided this game was simply too much hassle to continue with. After that, this game really only continues more as a hobby of Sean and Brian.
I do understand your confusion at this state of affairs. Utopia is still very much a unique game that avoids many of the problems of UK/Khan Wars type games.