I think it is the best way to deal with these price jumps. Of course they can not accept unlimited orders when the price is skyrocketing, it would not take long until they are ruined. So this is a good solution to keep existing orders open and just not to allow new orders being created when there is the risk that they can not afford to pay you.
This is, in my opinion, much more serious than having DoS Attacks or something like that during those moments when a price explodes..
It doesn't bode well if an exchange doesn't have the liquidity available for present market conditions. It's not like 1b is new to this, they been around for quite a while now and should have contingencies in place. At a meager 5x leverage the reward is much less then for the fx pairs. So saying they simply don't have the funds available doesn't wash.