I've never used Apeture, but wasn't it supposed to compete directly with Adobe Photoshop? Correct me if I'm wrong. I doubt a small app like Aperture can make a dent when Adobe Photoshop is the de facto standard for photographers. So yea I guess Apple saw it as a lost cause and scrapped it. Except to see the Aperture features trickle into iPhoto over the next few releases.
That is entirely incorrect.
Photoshop is an image manipulation tool. Aperture is a tool for professional photographers and photo editors (I don't mean people who manipulate photos, I mean people in editorial positions who select photos to be used for a purpose -- think "the photo editor at the New York Times" type of position) that has its strengths in managing RAW image files as if they were JPEGs like iPhoto can. It has phenomenal capabilities around metadata and managing a large library, and offers the basic correction tools that photographers would need (exposure, color correction, saturation, contrast, sharpening, etc.).
There is little to no overlap with Photoshop, nor is there any evidence that Aperture has been "killed."
I happen to be a photographer, and have the problems that Aperture solved. At an event, I might easily shoot over 800 exposures. Before Aperture it would take me at least a day or two to sort through them and make my selects. At an event a week ago, I was able to sort through 762 exposures and pull out about 120 selects in under two hours. It has more than paid for itself many times over in productivity savings.