Yes, another title in the series has been canceled. Capcom has officially announced that the project has been dumped. Mega Man Universe was scrapped back in March and its the second cancellation in the same year.
Will we see any other installment in the series or it will Rest in Peace? Capcom believes that the series (being an important franchise) is expected to make a come back.
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 canceled, meaning that Capcom will not be releasing the Prototype or the full game
Which Criteria? Budget? Man Power? there can be many. It’s a disappointing news and I hope that the franchise will be revived soon.