I appreciated Curt's posts here a lot, even though I haven't bought Reckoning yet (probably will when the Ultimate Edition on Steam is lower in price), so I'm pretty sad about the news. I mean, you can clearly see that the man and the whole team were really passionate about the product and poured their heart into it, even though they took some decisions I'm strongly against (MMO-like structure, too much content, not much of a challenge).
That said, the MMO market is both extremely risky and extremely expensive, and Reckoning sounds like it had decent but unimpressive sales, so I'm not too surprised. On top of that, Kingdoms of Amalur just doesn't look like a franchise strong enough to support both single-player titles and an MMO, it doesn't really seem to have enough distinctive qualities, both in setting and characters. Reckoning's selling point was "we have action combat!" and that's becoming quite common with RPGs as of now.