It seems my other post has already been quoted.
I'm afraid I'm going to have to speak some brutal truths here, though...
It must be said that the only customers really lost by Capcom here, are those who weren't aware of the Legends series' history as a 100% loss-maker.
For the uninitiated: There is a curious online-echo-chamber effect about the Legends series, in that people perceive it as "big and popular" due to its online following - the old "I like it, so it must sell lots!" effect. However, the sales and profit of the three original games (MegaMan Legends, The Misadventures of Tron Bonne, and MegaMan Legends 2) speak volumes - very few people wanted those games, and accordingly they made no money. In fact, they each made losses and put Capcom in the red. They were always very open about this fact (and it's even mentioned in the interview at the back of Mega Man Megamix Vol. 3), and this was, of course, the reason why they never made Legends 3 back in the early 2000s. The echo-chamber effect has come to be applied to Legends 3, as well - there are astonishing numbers of people who thought that it had huge interest from all quarters, and that it was going to be a universal system-seller that sold millions.
The fuss made over Legends 3, before they had to eventually confess that no production green-light had been given, was most likely yet another effort from the team responsible to get their way, in spite of very clear evidence that the game was destined for failure. This is probably also why the second game was left on a cliffhanger - some sort of attempt to guarantee that they got to make another installment in this (to put it sadly bluntly) failed sub-series.
MegaMan Legends 3 never had a snowball's chance in hell of being made, and I was always astonished by the fact that Capcom had allowed this team to do what they did. It was a vanity-project (intended, going on what's been said in interviews where the Legends series came up, to attempt to recreate how the developers felt back in the late 1990s), plain and simple.
The other cancelled game (Mega Man Universe) was the same, and also a vanity-project (this time, someone trying to recreate Mega Man 2 out of a misguided belief that doing so would bring the old times back) - and with that one they even openly admitted that it was solely aimed at immature man-children who treated their possessions with disrespect when they were actual children (quick and important note for those unaware: You don't treat your mythos like crap in that fashion - it loses sales and customers; That is likely one of the reasons that Mega Man Universe was cancelled). It was not a Mega Man game - just a game featuring toys to be broken that happened to look like Mega Man.
Before anyone with an emotional investment lynches me for the above: I'm not speaking against the games or their quality. However, I would hope that that's obvious, since I can't see any other way of reading the above.
Unfortunately, this is just the way the business goes - games that don't sell are cancelled before being made *all the time*. The only difference here is that a team who knew they had no chance, has created an enormous PR disaster that is partially being fed by folks who do not understand how this all works, or that MegaMan Legends has never sold well.
I quite agree with sporkbox that Mega Man prints money. However, unfortunately, MegaMan Legends doesn't, and never has.