The rumor was true: Marvel Comics for the console is no more.

Though what killed it remains uncertain — as far as Game Guy’s concerned.

Confirmation that the massively multiplayer online game planned between Microsoft Corp. and Cryptic Studios has passed came recently from Shane Kim, head of Microsoft Game Studios, during an interview with MTV. The rumor dates back to November.

Given that an MMO with famous comic-book superheros was bound to draw a crowd, the project’s death is curious. Why would Microsoft, which is always in the market for something to keep its Xbox 360 platform relevant against Nintendo’s Wii and Sony’s improving PlayStation 3, suddenly change its mind?

“It was amicable decision,” Kim said of the cancellation. “It’s just something that we felt that, for us and for (Cryptic), it would be better if we ended development. Which is disappointing, because that had a lot of promise.”

Sounds as though there were creative differences, but Kim goes on to say that’s not quite the case.

“For us, we look at our priorities and all of the things we have to do. It’s a tough space. It’s a very competitive space. And it’s a space that’s changing quite a bit,” he said.

Basically, Microsoft and Cryptic decided that the final result “wouldn’t meet our level or definition of commercial success,” Kim added.

So, then, if Kim’s on the level, what he’s saying basically is that the parties in this venture called it quits because neither expected enough jack for their efforts. But Game Guy wonders why that wasn’t clear from the beginning, because who bothers to tackle such projects without knowing first thing about potential revenues?

Game Guy imagines a Marvel MMO would have made plenty of money for all parties, so it must have been something else that scuttled the project. Getting the real reason out in the open sounds like a job for a superhero.