Sad, but not really surprising. I mean how long can a single game's development go on before the company bleeds more money than it can recover. 10 years is enough to make two to three games. And I don't understand why people are still waiting for Duke Nukem to be good, if the trailers were any indication, the game would be mediocre at best. If you want an over-the-top shooter, play Serious Sam.
This speaks for itself. The graphics in game are pretty badass. http://en.wikipedia.org/wiki/Serious_Sam Don't bother with Serious Sam 2. It's pretty bad.
I loved both First and Second encounter when I was young, and I love Serious Sam 2 now. It's one of the best LAN games I've played in a while.