The series hasn't sold too well in the past few years, with the exception of Mega Man 9. However, many fans (myself included) feel like Mega Man is the mascot for Capcom. It would be like Nintendo cancelling all of their Mario titles, fans would certainly question what the hell is going on in the corporate office. Capcom of Europe is blaming MML3 fans for the cancellation, citing a general lack of interest among gamers...I call bullshit on that excuse. For me, today's leak of the entire roster of UMvC 3 confirmed that Capcom no longer cares about the Mega Man franchise. Capcom ran polls on their site to see which popular characters should make into the MvC sequel, and Mega Man X ranked 2nd overall. This didn't seem to matter to Capcom who decided Frank West is a better character to have in the game, when no one really gives a shit about him.
RIP MEGA MAN
December 1987-March 2010