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Its probably more of a case of them running out of games to release.

Remember there'll be licensing issues with some games such as Capcoms Magical Quest Starring Mickey Mouse, they'd have to pay for the Disney license there.

Then there's the fact that only about 5-6 companies are actively releasing VC games. Nintendo, Konami, Capcom etc have probably released the bulk of their SNES library on VC, or at least what will sell.