I think everyone is discounting the potential sales of a downloadable release. It'd certainly be in their best interest to launch it on WiiWare, too.
However, a 2D-HD game (ala Braid or Shadow Complex) could do gangbusters for the digital platofmrs. Factor in much higher profit margins, and it could do great for Sega over a longer period of time.
Back from the dead, I'm afraid.