From 1up.com

Earlier this year, a list of games Nintendo would be showing off at the Electronic Entertainment Expo leaked. As expected, the information spread like wildfire, and fans were rabid. Unannounced games like Mario & Luigi 2 were present on the list, and eventually showed up at E3 itself.

Metroid Dread was one such Nintendo DS game, but it never showed up at E3. It hasn't been announced, mentioned or discussed since the list made its appearance. In fact, there's been no indication players should expect anything but Metroid Prime-esque games like Hunters on DS anytime soon.

And now rumors are flying the in-development Metroid Dread has been canned. Confirmation from Nintendo on Monday's unlikely considering their policy on rumors, but if true, it doesn't bode well for old school Metroid fans. Until now, there's been a balance between the first-person takes and the 2D installments.

Then again, maybe it's just Nintendo practicing quality control, and we'll see a 2D Metroid down the line. The DS won't be making its exit for a while yet.
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Here's hoping it hasn't been cancelled. We need another good 2D metroid game.