Sony Santa Monica’s Canceled New IP Was Sci-fi, Really Unique, Set to Be Unveiled at E3, Insider Says

[kupomogli]

Lawlight said:
It wouldn't have been cancelled if it was good.

If it wasn't very far along in development.  It's stated that they're preserving the assets that they currently have, so it might be picked back up after other projects that are further along are completed.