A game that manages to sell 3 million copies within months of release is disappointing sales. This means they spent way more than they should have making the game.
It is also another example where a new IP like Red Dead Redemption carries less risk and has more financial success, than trying to revive and keep relevant some old IP by spending shit tons of money while not creating shit tons of value for the gamer.
They have worked years on this game. It was supposed to release in 2009. And just imagine if Max Payne 3 dissapointed what will happen to games like The Last Guardian or Final Fantasy Versus.