Internal politics, blood ties loyalty and expertise

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Hey guys. Its been a while since I last wrote something here. I just wrote some sort of a "welcome back to me" thread a while ago, and I felt the urge of writing something that relates to what's happening around me at the moment. A decision has been made. So here I am in a situation bordering between frustration and realization. I work in IT in a private company here in our province. I have been here for almost 11 years (I was kind of surprised when I realized that) and am currently on a management role. I was coming off of a really painful situation here at the office though. I had a staff whom I trained for the past two years in software development. I knew right from the get go that this kid had potential since we share the same ideas and same work ethic (I am hardcore developer myself prior to being assigned to a management role). I was really happy to see someone who had the same ideas and skills as myself. I tend to actually see this kid as my younger version in many ways. We worked together for two years on a project that will revolutionize what the company is doing in its daily operations (data collection and analysis). We were proud to inform the top management of the results of our project and introduce it to the ecosystem. They were ecstatic and was grateful for our accomplishments. They were so happy that a few days later, they took the project from me along with the staff and assigned the project and personnel to someone else! Amazing isn't it? And to whom did they assign the project to? Well, to someone who is closely knit with the CEO! And to top it off, the CEO's son belongs to this person's unit. That might just be a coincidence though. Again, amazing isn't it? All of this was decided without consultation from me. No explanations whatsoever. I have come into terms with what happened at the moment and have decided to move on and leave this job for something else. I have lost trust in the system. It revealed to me that respect isn't in their morals. They would do anything they wanted without regards to what the staff, no matter how loyal, feels. Ranting much? Maybe. This is what i feel and I am not ashamed to say it. For this event, it seemed like loyalty and expertise doesn't stand a chance against blood ties and internal politics. This might not be true to all organizations, but in this one, it is.