The news comes just over a year after rumors arose of the game's demise, amid rumblings of layoffs at co-developer Idol Minds. SCE had taken Idol Minds off the project, and tasked Sony San Diego solely with its completion. Sadly, that's not come to pass.
When it first introduced Ruin, Sony focused on the cross-play, now an established feature across other games. With that selling point somewhat diminished, there unfortunately may not have been enough left to convince Sony to take the game forward.
Sony PlayStation 3 (late 2012)