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I don't see Mega Man as dead. Mega Man still lives in his spin-off products like the graphic novels, his comic book series with Archie and the various toys. Hopefully these products will sell a ton, drum up more interest in the franchise and prompt Capcom to start working on more Mega Man games (and not cancel them).
Also i am indeed saddened and confused that Mega Man is not in this update but I'll manage. I am very excited for the newcomers that were added though. Plus i still have my main man Zero so at least one Mega Man character i enjoy is along for the ride.
"I just beat Mag-Freaking-Neto! Where yo curly mustache at?!" - Deadpool "I reject your reality and substitute my own" - Adam Savage
I'm more than a little depressed, given Mega Man has been my favorite series since I started playing video games (Mega Man 5 was my first). I'm still buying the comics and probably some of the kits, so Mega Man isn't truly dead to me, but I can see that Capcom thinks he is. I cannot express with words what I wish would happen to Capcom now.
"Battle not with monsters, lest ye become a monster, and if you gaze into the abyss, the abyss gazes also into you." - Friedrich Nietzsche