This game is way too long in development to be half-assed, even with the reboot in 2007. The first Red Steel was developed in just eight months if I remember correctly, on new hardware - and that was obviously sufficient to add at least basic local multiplayer. I believe Ubisoft just wanted to go in a completely different direction, and multiplayer simply didn't fit in anymore. Red Steel 2 actually seems to be quite ambitious, actually. Two to four years of development time (depending on what, if anything, Ubisoft Paris kept from Red Steel 1.5) is a lot of time, especially for a sequel.