As a player of CoH I've been watching this all unfold for months, and it's just sad on every level. Obviously sad for the players and developers, but there's a greek tragedy that is looming over NCSoft as well.
The 'strategic reasons' that caused NCSoft to shut down CoH is that they just don't understand the product -- an easy-to-play game friendly to casual players with little or no PvP content. That kind of thing doesn't sell in Korea and doesn't make sense to NCSoft's Korean masters. They have made a decision to consolidate their games along the Korean 'grind-and-PvP' model, possibly with a centralized game store using common currency, as some other large game producers have done. CoH could not be adapted to that model. Advertising in America would be additional cost for a marketing department that only understands Korean game culture. So they decided to effectively pull their games out of America and focus on what they know best back at home.
It's a strategy, I guess. They'll still sell games in America, but they'll be anglicized versions of Korean grindfests with little or no marketing. GW2 is a prime example...and the players there are beginning to understand that, with the GW1 gameplay replaced by ridiculous grinds and a 'pay to win' cash market, not to mention characters from the korean alphabet creeping into the American version of the UI.
Frankly I wouldn't trust NCSoft to keep any game alive in the Western market, not now and not for another year. They don't want to do business here. They don't want to make the kind of games that casual players enjoy. They want to have a stable full of Lineage clones, and cutting off a profitable CoH is the first step towards that strategic goal.
It's just a tragic display of hubris. They were even too short-sighted to consider selling the game. Just sad, all around. RIP, Paragon City. I'll remember you for letting me be a hero.