Now I'm definitely not the most hardcore Legends fan on RPM, so I'm probably not as broken up about this as a lot of people on here. My love lies primarily with the Classic series, and in that Capcom has pleased me with the last 2 games.
......Having said that, in all honesty I gotta say that this is seriously one of the most douchebag moves I've ever seen come from a gaming company...quite possibly ever. It's one thing to just outright lie and say "We're making a MegaMan Legends 3 game" sit on it for a while and behind the scenes discuss whether or not it will make a profit or not, cause lets be perfectly honest, MM fans are a very niche fanbase lately. However, to constantly pump the game up like this, to go to your fans "OH YEAH, WE'RE MAKING THIS [sonic slicer] AND YOU'RE ALL GONNA GET TO HELP!" and everything, to promote some random guy to do your Devroom PR work, to hold submission drawing contests and allow fans to vote on the designs of the characters, and essentially go out of their way to literally pump this game up as much as possible only to do this when it should be obvious that it's only a possibility that it's going to make a profit? The best equivalent I can think of would be if Nintendo spent months and months releasing all their Smash Bros. Dojo updates then announce that Brawl is canceled. Again, it's one thing to just announce something when you shouldn't and it's something entirely different to get your fanbase horny and then blue ball em' like this.
I'm definitely not one of those people who will never buy a Capcom product again (not like I any now anyway) because if they make a MM11, I'll buy it day 1. However, this is really an incredible spit in the face to a loyal, a downright overly loyal, franchise fanbase and the ramifications of this move will be very interesting to see. All I can say is for the people that are really hurt by this, protest with your wallet, not just your words.