The travesty is that Gawker probably would have gotten away with it based on the fact that Hogan didn't have the resources to pursue a lawsuit. It really has nothing to do with Thiel.
Gawker was also getting away with using personal wealth as a way to defer justice. Gawker also buried people suing them with legal fees.
I agree we should move towards a costless or more efficient legal system, but in the meantime, the Hogan vs. Gawker lawsuit was a victory for the good guys.