In the wake of that cancellation, a lot of speculation and theories began to circulate social media (and just plain old media), indicating that EA had cancelled it because, what with it being a single player game, opportunities for long term player retention and monetization would be minimal.
However, well known industry reporter and insider Jason Schreier has taken to Twitter to dispel a few of these myths- he has stated, pretty explicitly, that the game was cancelled, but not for being single player.
Yesterday, EA announced the closure of long time fan favorite studio VIsceral Games (the folks who brought us Dead Space), as well as the cancellation of their Star Wars game, which was meant to be a cinematic title in the tradition of Uncharted, set in the Star Wars universe, and helmed by none other than Amy Hennig, one of the creators of Star Wars herself.