Actually, yes. Anyone who owns a small business would be very smart to set up an LLC to protect their assets.
I know someone who worked it the other way around. They personally own the building as a private entity and rents it to the business he owns. If the business gets sued, which is more likely than him getting sued as a private person, the building is protected.
Same thing with home owners insurance. Once my house was paid off enough, I increased both my car and home insurance liability up high enough it wouldn't be worth it for anyone to forgo an insurance settlement and sue me directly. I double-checked state law, and yes, that can happen.
I can't fault Mr. Peters for placing the collection under the LLC's umbrella. I'd do the same if I were him ... except I wouldn't go around the internet and P*'ing people off on Twitter and Facebook.