Fable Legends, to me, was the most interesting, inspired thing I'd seen out of Fable in years. It's characters were solid, the effects for the skills and such were gorgeous, and overall, even if it's "Not an RPG", it was on a good path to being something PSO-like with the potential to do much more for expanding the lore of the story than retread RPGs that were put out just to say the Xbox had an RPG series.
Really sad to see that the game won't properly release and be updated; It's season model sounded like it could have great potential if used properly.
Press Play is a shame, too; I don't think I was as impressed by Kalimbra and Max as many, but they were definitely solid games, and the studio deserved to have time to grow into their own, not just get shuttered so swiftly.
I hope Lionhead gets to continue to some degree (since I hear the title is wrong, and they're still in discussion), and I'd totally be fine with getting a playable, never updated version of Legends for like $20 if they'd release it. Seems a real shame for such work to go to waste.
Bleh, this is just nasty news. Not something I'd even expect to hear at all in the next few years, let alone today.