I doubt that security system has failed, users weren't responsible for their funds enough, same thing could happen with your internet banking.
I really hope that it is the case. Blockchain.info is (probably) the most popular online service right now, far ahead of other service providers such as Coinbase and Armory. Any failure will be catastrophic for the Bitcoin.
It's not their fault people don't look after their coins. How hard is it to take advantage of the security features? If people are lackadaisical with security then it's their own fault. I'm sure more desktop wallets are actually hacked than online ones as well, especially with their lack of security features.
+1.
If you got malware on your machine, your bitcoin will get stolen no matter you are using blockchain.info, coinbase, multibit, electrum or bitcoin-qt. People should learn to use 2FA and different passwords for different sites, and be careful with phishing emails.