It's hard to feel sorry for anyone who got caught up in the Penguin update. We've known for years that Google will eliminate vast swaths of results in an update to rid their results of spammy sites. Penguin is no different than any other major update over the last several years that was geared toward making Google SERPS better for their users - us included.
If someone didn't see this one coming, they deserve the lesson of losing all their rankings. You have to keep up on what Google wants or find other ways to get traffic.