WordPress Theme suddenly stopped working, creator shut down

I own the Luka Modern Photography Theme by Colormelon.
Today I updated to the latest version of WordPress 5.7.1 and the theme stopped working completely.
I then went to check for advice from the publisher of the theme and they are gone: Colormelon's profile on ThemeForest
I purchased this a few years ago, so I am outside the support window. Nonetheless it has caused a major headache as I now have to redesign my entire website and build it around another theme, something that will probably take several days work - and all of this without any warning.
Am I entitled to any form of refund?
Or has anyone gone through something similar like this?

You wouldn’t be entitled to a refund if the purchase was years ago.

As envato do not own the items for sale it’s not possible for them to know when authors may choose to remove/stop supporting them.

Do you not back your site up? Does your host do it? If so then you could reinstate at a lower version of WP

Thanks for the response.
I have backups, so I could technically restore a lower version of WP as a stop gap, but it’s disappointing to see that authors can just pull the plug so suddenly without any warning, rendering an entire website broken barring a downgrade of WP.

While I do agree and understand the frustration - this is unfortunately the model which allows envato to have the quality and quantity of themes it does (it’s not an exclusive issue which doesn’t occur on the more traditional marketplaces too), and why it’s outlined in the T&Cs.

Speaking as an experienced buyer, we accept that paying under $100 for something with easily into the thousands, comes with considered risk.

WordPress 5.6 update made huge updates. And, theme was working when you bought as I understand.

In addition, the author of theme seems removed theme and not supporting it much more. (6 months support period ended.)

So, it doesn’t result a refund.