why was this cancelled?

According to wikipedia it went well enough with critics and fans:

"The series received positive reaction from fans, but mixed reviews from critics. Critics praised the animation as well as the creators taking another, more violent side of Spider-Man, and also praised the villains and series-exclusive villains. Critics did pan the show's time line to the film, calling it "illogical", and thought the show would have been better if the show were based more on the comics."

I was sceptical to this series first, because I didn't like the look, but it turned out to be very good. It doesn't necessarily have to be ratings either, even though it could be. I don't know, but take Wolverine and the X-Men for example. Great reviews, everyone loved it, one of the highest watched premieres... Cancelled because of paper work etc.

From what I understand, this was like a animated sequel to the movie and when the 2nd one was green lit this was abandoned.

Dont know but I like it way better than the Sam Raimi movies.

In the words of George Tekai, "Oh My!"