"Given that that title now in two successive versions has [only]found a niche," said THQ's CEO Brian Farrell, as reported by Gamasutra, "we do not intend to carry forward with that franchise in any meaningful way."
It's a shame, given the fact that both Red Faction: Guerrilla and Armageddon really did push the boundaries of in-game destruction physics with the Geomod engine. Hopefully this tech will find its feet in another Volition franchise.
Good night sweet prince. Daddy's going to miss you.