Can't say I'm surprised Lionhead was shut down either, it's been 6 years since they released Fable III and since then it's just been junk. And when they shut down their official forum years ago it wasn't exactly a good sign either.
But what I will remember the most from Lionhead is the crazy hype the first Fable game had during it's development. Never fell for the hype myself, but I have played Fable 1-3 and they were pleasant. But I never felt like replaying any of them.
Back in early 2002 Big Blue Box started to talk about how amazing their Project Ego was gonna be, and around the same time Morrowind was released, which resulted in a huge amount of Project Ego vs Morrowind threads everywhere (the Skyrim vs Witcher 3 threads didn't get anywhere near this ), especially here on the official Morrowind forums, with lots of people claiming Morrowind is so much worse than Project Ego gonna be.
Then Lionhead bought Big Blu Box, renamed it Fable and over the next 2.5 years feature after feature was cut out, until it was finally released in late 2004.
So the development was pretty much like this.
2002: "Fable is the ultimate in non-linearity! Go anywhere, do anything, any time! It's your choice!"
2004: "Well, the plot is fairly linear, but what matters is the choices you make."
2002: "Play any character you want!"
2004: "C'mon, who really wants to play a female anyway?"
2002: "Awesome coop multiplayer. Play with your friends. Save your character on a memory card and bring it to your friends house!"
2004: "Um, yeah, about that multiplayer..."
2002: "Late 2002"
2004: "Sometime in 04."