I can speculate wildly with the best of em. Preface these remarks with the fact that I have no idea what I'm talking about. Frankly I hope I'm wrong.
I think the real story has to do with EA ownership. A small but significant indicator is that Legends of Kesmai closes at the end of the month.
LoK might have been making a little money, I have no idea, but EA are the same bunch who own Ultima Online with its +100,000 subscribers at $10 a month and servers on at least 4 continents with UO2 in the pipe to compete with Everquest, Acheron's Call, etc. These titles are earning *millions* for their owners. A _little_ money is not what EA have in mind.
From that standpoint AW and the market for multiplayer air combat games can only be a blip on the radar. EA probably bought Kesmai for their Gamestorm infrastructure and potential for future development rather than for the existing Kesmai lineup.
EA will continue to trim away at Kesmai, focusing efforts where they are most likely to bring the biggest return, but EA's gonna want the shop to be making some real money, and I don't think in the long term that's going to be an online air combat game.