Yeah, it's sad in that they're a pretty massive name that's going away (and one of the few studios mostly known for doing original work rather than adaptations)

Yeah, it's sad in that they're a pretty massive name that's going away (and one of the few studios mostly known for doing original work rather than adaptations), but it's been a long time coming and the actual losses are minimal (it's really only FLCL but that happened years ago). One small correction though: no IPs will be transferred to Cloverworks as far as I know. Cloverworks didn't really get any specific creatives from Gainax, moreso just that a lot of the intermediate staff that you usually don't hear about ended up at Cloverworks. (Which to my understanding was largely a coincidence: A1 had formed Cloverworks, put out hiring ads and in the next month, Gainax basically declared they weren't ever going to make any experimental anime again, causing a mass exodus from the company.)