This doesn't necessarily affect me, but I find this a real potential problem with the App Store model. The hardware still works which, to me, means the user should be able to continue using it as long as they'd like. The 32bit warnings that we're seeing suggest that Apple is getting ready to shut down support for 32bit apps, and they've shown a desire to sweep through the App Store and remove applications that are no longer updated.
I'm not bothered by removing the ability to buy outdated apps, but I've always been uncomfortable with preventing existing users from downloading them again. Now I'm even more uncomfortable if it renders working hardware unusable. This is also different from dropping support for old hardware as Apple does in their Mac line. Not supporting it isn't the same as unilaterally stripping away the applications available to run on it.
There's another problem here that isn't really Apples, but that Apple could help to mitigate: if a dev drops support for an older device, it would be nice if Apple kept the last working version around for each device type.
I recommend anyone else troubled by this add their comments:
https://www.apple.com/feedback/itunesapp.html
As far as I can tell, that's the right place to provide feedback on the iTunes App Store.