Vince was either high or he completly lost it when it comes to cancelling the Survivor Series.
How on earth does he think that someone is going to pay 80$ to watch two PPVs in three weeks time, add to the fact that the mainevent of Bragging Rights was a 14 man tag team match between SD and RAW (each team has seven members) and you get the reason why Survivor Series buyrates were down the toilet.
It wasnot the reason Vince gave to us or the shareholders, it is because of greed and bad booking, the Survivor Series traditional elimination matches were what these PPVs were all about, seeing new and fresh tag combinations between wrestlers who weren't grouped for a long time, seeing two wrestlers in the same ring for the first time, and when the traditional matches weren't there, the Deadly games and the Elmination Chamber arrived, Survivor Series was about how to suvive your opponents and not about title matches.
The WWE never tried to do an interesting angle with the traditional Survivor Series elmination match since 2005 with the RAW vs SD! angle, back then it was every guy on a team was feuding with another guy on the other team, but now it is only about the team captains and the other guys are irrelevant.
Also the fact that Bragging Rights had a more compelling storyline in the RAW vs SD feud and a better buildup than any Survivor Series match, combined with Survivor Series' bad and over repeated mainevents (how many times have we seen Cena, HHH and HBK in the title scene, while Taker vs Show was done in SS08) with the only new thing was 'Taker vs Jericho and they completly threw it by booking them twice before the PPV.
Had WWE given the event more time to promote it and build it up better, its buys would've risen higher.
Anyway I think that we have to accept the fact that we are living in a new era of pro wrestling (whether we like it or not) that is meant to garner around newer fans who don't know shit about WWE's history. RIP Survivor Series and thanks for your great memories such as Undertaker's debut, Rock's debut, Montreal Screwjob, Deadly Games, End of Alliance storyline, First ever Elmination Chamber and much more memories that will have to be replaced by some shitty gimick themed PPV coupled by a shitty name.
I'm just afraid that maybe one day, Vince finds that the Royal Rumble or SummerSlam didn't sell well and decides that they've ran their course and it is now time to start doing something new.