That sounds reasonable.
Unless perhaps someone ends up having to buy a single ticket to travel home by a different route/company and therefore has to effectively pay for another return.
I suppose normally you'd hope they'd just get to use their existing ticket to do that.
As a general rule, there should be one of two things which could happen:
1) customer obtains a refund, and does not use the ticket (or delayed on route & returns to point of origin); the customer may additionally purchase another ticket
Or
2) customer travels by alternative route on the original ticket; delay repay would apply if th delay is of qualifying length
Option 2 is the best option if the journey is made by alternative means and if any replacement ticket would cost more than the original, although this may not always be an option depending on the extent of the delays, the applicable fare restrictions, ticket acceptance etc.
For example I once experienced a delay to Dumfries; I had bought through the forum's site. My TPE train was cancelled and I decided that the best thing to do was use alternative tickets to avoid a delay; I also arranged a lift from Carlisle. So in this case I chose the refund option rather than use the original ticket. This is because the original ticket wasn't being accepted on LNER, meaning I would be too late for the walk I was planning to do.
If anyone is in a pickle at the time of travel it's worth posting here, stating the booked itinerary, details of ticket(s) held, and as much information as possible, and those of us who happen to be online at the time may be in a position to assist.
Sometimes it's not easy to know the best solution as it depends on what the ticket acceptance situation is, how time critical the journey is, and other factors relating to customer preference etc.