Yes. It is just really poor.
They don't seem to have any appreciation that people have a need to be places and refunds don't help. It's different if it is out of their hands, but they made a business decision (as they are entitled to do), but then have arbitrarly chosen a date and decided to not look after passengers from that point on. I'd have sympathy if they were flying somewhere no one else flew and couldn't provide options... It's Hong Kong though, and there are options both direct and on their partners.
Meanwhile, I'm now out of pocket, due to Virgins business decision. It doesn't seem ethical.