You sound like little fanboys. What he basically says is that the PS3 was hard to program for (which is a known fact), that plus a probably too short deadline for the game is some valid reasons why it sucked so hard imo.
There was many developers in the beginning that struggled with the PS3 since it's so advanced and required more work to be put into it's projects than for other consoles.
They should cancel it. I agree with you, but they can't continue work of a game on a system like the PS3 if they have a tough time with it.