My guess is poor toy sales. I mean that's usually why good animated shows get cancelled, no?
They didn't even go all in with the toyline. There was apparently happy meals and one 6 inch figure
Maybe kids weren't too excited for Professor Pyg and Toad figures?
I've never quite understood the logic behind some of these things. Like if toy sales and such are important why create a series that would seem unlikely to generate such? Did anyone expect Beware to be good toy fodder?