The latest news is that Wildstar will be converting to Free-2-Play this fall. It's sort of sad that it never got traction, but at the same time it is sort of expected.
I played Wildstar in the Beta, but never signed up after launch. Pretty much everyone has theories about why Wildstar failed. Personally I blame the swearing on level up.
Another explanation might be that the default gameplay action combat style was too intense for a long-term MMO. Or that the base difficulty was pitched too high, making group content really difficult. Or that the attunements required for endgame were overly grindy. Or that the classes were uninspired and boring.
(But really, it was the bleeped profanity.)
However, it was a game worth trying, and at least F2P means that a lot of people will get to try it out. The housing system is supposed to be excellent.
I really wonder if we'll ever see a Sci-Fi MMO setting again. At least a third-person single-character style one. Other than Eve Online, the track record for Sci-Fi MMOs is pretty dismal.