Damn. I'm sorry to those who lost their jobs.
Fable Legends was actually something I was looking forward to checking out. The franchise was wildly mishandled after Fable III (which I still need to play and don't have an opinion on yet.) While I have good memories of playing through the first Fable at a friends house, Fable II was one of my favorite action/adventure games. It had RPG elements for sure, but I feel like those who strictly labeled it as such kind of missed the point. That mentality lead to some disappointment that Fable II wasn't more like Fallout 3, Mass Effect, or Dragon Age: Origins.
I know many people see Fable III as the beginning-of-the-end, but it's possible that the questioning of Fable II's ambiguous RPG-intentions by fans is where Lionhead started to feel an identity crisis with the series. After Fable II, everything was more scattershot.
RIP Milo