MLB will not be putting the server back, nor will they issue any refunds for the now-useless videos. They are, however, asking you to buy new videos using their new (and incompatible server.) And anybody who thinks they won't get screwed over a second time is just plain stupid.
Anti-DRM advocates (myself included) have pointed out that this is a distinct possibility whenever you buy DRM-protected content. Your rights to your purchases can't possibly outlive the supplier. And in the case of Major League Baseball, their outsourced IT department, it seems.