IMO this is the backlash from the me toos of MMOs. The market got so saturated with Publishers seeing the success of WoW that they all jumped on the MMO bandwagon. Unfortunately, the market can only support so many (perhaps that number is even one). I foresee a lot more MMOs going under and MMO projects being cancelled.
This is pretty much what happened with Myst when everyone saw the ridiculous numbers it was doing. Everyone started doing first person point and click adventures (MANY of them sucked) and then the bottom fell out of the genre. The biggest problem was that those first person point and click games weren't any good (even Myst wasn't any good). Myst had the benefit of being the CDROM killer app (anyone who had a CDROM had to get Myst cause it looked so cool). Too bad it took the genre with it and we lost the likes of Monkey Island, The Longest Journey, Sam and Max, Full Throttle, etc.