Yeah, I wouldn't say the sky is falling when it comes to Nick properties. A lot of the shows get higher ratings than what's on Disney Channel and actually 2015 was the first year Disney Channel JUST edged out Nickelodeon in the ratings. And it's not just the stuff we know as adults that's popular (Spongebob, TMNT, even the new Alvin & the Chipmunks show is ahit), it's stuff we're not so familiar with like Franklin & Friends, Peppa Pig, Make It Pop, etc).
But that just makes these recent events more confusing.