Because it wasn’t working as an MMO.
I think it’s fair to say we all knew Wayfinder wasn’t working as an MMO, and that most of us were just kinda wondering how long after the free to play launch it would last before sunsetting. Assuming it made it to the launch that is.
Well the good news is that won’t be a problem. Wayfinder developer Airship Syndicate announced that not only is the game losing all of its microtransactions and going buy-to-play permanently, but that it is ditching the live service model.
The upcoming Echoes Update will remove all in-game monetization. Items previously available through microtransactions will now be earnable through gameplay, including characters, weapons, and armor sets. Priced at $24.99 USD, this one-time purchase includes all present and future Early Access content, with the price set to increase after the game leaves Early Access.
Airship Syndicate talked about the shifting industry, which is code word for the game has 30 players on Steam right now. Also live service games existing in an oversaturated market has simply led to more market failures and more games going back to traditional releases.
“We’ve seen a shift in the industry where players are OK paying for a premium title if it means respect for their time and wallets. It’s one we prefer ourselves, frankly, and we believe it’ll make the game much easier for people to enjoy. We hope this major change will entice players to come and see what we’ve built with Wayfinder, allowing us to support it long term.”
-Ryan Stefanelli – President
MMO Fallout 
This is honestly a step in the right direction.
If a studio can’t maintain the game as an MMO they can turn it into a single player game.
Which is something i wish every company did when they closed down their mmo’s in this past decade.