It may be that the ETF strategy outperforms in bull markets and...

It may be that the ETF strategy outperforms in bull markets and underperforms in bear markets. But we won't find out, since it was released just before a bear market, and thus it would take years from here to repair the 'underperformed' reputation.

Anyway, I don't mind the cost saving of shutting it down, vs waiting several more years as a wait and see.