Interesting discussion. First, with LAGuy and others above, I agree that often it can be a good idea (in theory) for a small maker to have access to the resources and growth potential of a large brand . BUT, in practice, it can be a double edged sword... I'm thinking off hand of JIl Sander and Helmut Lang selling to Prada in the 1990's for that same reason. Both were quite "small" brands compared to the mega-Prada. IT didn't work out and within a few seasons both namesake designers were gone. Though they had more $$$ and growth, they didn't have the same freedom they'd had before.
On the other hand, knowing that Delos won't work under his own name, I understand customers being sad about the loss of his name AND a jump in price to get his work with the Berluti label... but from the LVMH perspective, I think it is smart. Were I in the business with their resources, I'd want the best available experts in charge or having a hand in my shoes. With LVMH's money, buying out a Delos and having him on the payroll is next to nothing, and yet they'll get his know how, his ideas, and his creativity.
Seems pretty smart of them, and smart of him given that it's a good deal of $$$. I'm sure the man loves shoes, but he probably also wants to live a comfortable, nice life while still being able to do what he enjoys.