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It is especially a shame considering Insomniac appear to be slowly fading from the Playstation family. Up till now I've been able to play Jak and Daxter, and Ratchet and Clank. Although of course Jak no longer has games released in it's series... and Ratchet and Clanks next game is a spinoff, with Insomniac switching particial focus towards new IPs. 

I especially liked how the Jak and Ratchet games recycled sound from the Spyro/Crash games, always brought a sense of nostalgia. A little more on topic, no I don't think Activision will release any decent Spyro/Crash games. 

The Crash and Spyro IPs have been tarnished, too much, and are now worth less than it would be to start a new IP. Maybe in a few years people will have forgotten, and maybe that's what they're planning on. But as is even if the game was, decent, it's sales would be poor as people still remember being sting by the last Spyro/Crash titles.