Whatever happened to Megaman Legends 3?

Ah, Megaman Legends, one of my favourite Megaman Series, sure the first Megaman Legends had a bad story, but the second one was really cool, and I thought it was a good megaman 3D game, it was also a fanbase favourite and it was the only Megaman game on the N64.
10 Years Later, they announce a sequel named simply Megaman Legends 3, the game had a heavy marketing campaign about fans building the game up with their ideas which would be posted in the capcom-unity devroom, millions of fans contributed to the game, so they could try their best so that their ideas appeared on the new Megaman.
Even Inafune's departure didn't happen...Until 18th of July of 2011, in the middle of summer, they announce they cancelled the project.
Wow, and you may say: what was the reason?
Here is a message, that the development team and Greg sent to the fans:
We'd like to thank you for your ongoing loyal support of Mega Man Legends 3. Today, however, we must regrettably announce the discontinuation of this project.
From the outset the MML3 Project was intended to give gamers across the world insight and input into the development process. Part of this process includes an assessment of whether the title will go into full production, and is based on a number of criteria with input from different sectors of the company.
Unfortunately it was not felt that the Mega Man Legends 3 Project met the required criteria, and it is with regret that we must announce that the Mega Man Legends 3 Project has been cancelled, meaning that Capcom will not be releasing the Prototype or the full game. Additionally, updates of the Mega Man Legends Developer Room will cease as of today, though the North American Developer Room and its forums will remain open indefinitely.
We can only express our deepest apologies to all of you who have lent us your unending support, including participation in the Mega Man Legends 3 Developer Room. On behalf of the entire Legends team, please accept our sincere apology for failing to meet the expectations of the fans.
We thank you all so much for your extended support of this title and this community, and we hope that you will continue to support the Mega Man franchise as well as other Capcom games.That's it?!
They didn't give a reason of why they cancelled the game!
All they said was: "Sorry, and Keiji Inafune had nothing to do with this."
We don't care about Keiji, we don't care about support, we want a reason.
So let me get this straight, you cancel a game that was heavily marketed and then you cancel but you don't tell us the reason of the cancelation.
This makes Duke Nukem Forever looks like a hero, because they took years in development to make it and they did, and they gaved three reasons why it took so long, First, because of engine changes, Second, Roussard didn't accept an offer by Take Two and Third, they shifted the developers..
And plus, did Megaman died, because I rarely see him in new capcom games, he doesn't even appear in Marvel vs. Capcom 3, instead it has Zero and Tron.
Okay, now here's my message to Capcom:

Eguchi-san,
I have been dissapointed by your project.
I consider this cancellation as one of the biggest trollings since Rain in Ultimate Mortal Kombat 3, Raiden in Metal Gear Solid 2 and the Radio Drama of Snatcher.
You kept us thinking and waiting for this project, anticipating the return of Vollnut and the sweet end of the Legends series.
But instead, you let down your fans by canceling without explaining the reason why you did, it was a huge project and everyone was cooperating.
We don't want Dante, Ryu or Asura, we want back the Megaman we know as Vollnut.
You did the same thing as Nintendo did to the people at Project Rainfall, by cancelling two blue bomber games.
I just wish you come back to work for Megaman and his crew.
Cruz.
PS:Stop making Street Fighter IV titles.