Devil's advocate.
First off, unless you work for Apple we had no idea why the service is down (currently I have the 4010 error, and have since last night).
Secondly, when you're as big a company as Apple, you have redundancy, or at least you should. So what if there were big storms in Virginia? You think that excuse would fly on the stock market? If their Virginia location is down, flip to the CnR and it's fixed. We're talking about Apple, here.
Third, it's a subscription service - we pay a yearly fee, not unlike a cable service. When the service is down for a day, or a week, the company should do the right thing and extend our service. Apple has not done that, at least not yet. My service has been pretty spotty since the EO May, actually - I hit the "update iTunes Match" button and I never know how low it will take anymore. That wasn't the case earlier this year.
My guess is that there's something else going on - maybe they are planning some major change to iTM and these outages (and they are outages) are a pre-cursor to that. Maybe they think that, as long as they get things ready before November, we'll forgive them. And manybe they're right. 😉 But for the here and now it's an outage and at the very least Apple should acknowledge it and if they wanted to the do the right thing they should give everyone an extra month of service as a way of saying "sorry about that".