According to the official Command & Conquer page, the formerly upcoming Command & Conquer has been canceled. Victory Games has left this message for all alpha testers and fans of the game:

Generals,

Thank you for your participation over the last few months in the Command & Conquer closed alpha test. It’s been much appreciated, and you’ve been instrumental in helping define what a new Command & Conquer experience should and shouldn’t be.

Part of being in a creative team is the understanding that not all of your choices are going to work out. In this case, we shifted the game away from campaign mode and built an economy-based, multiplayer experience. Your feedback from the alpha trial is clear: We are not making the game you want to play. That is why, after much difficult deliberation, we have decided to cease production of this version of the game. Although we deeply respect the great work done by our talented team, ultimately it’s about getting you the game you expect and deserve.

Over the next 10 days we will be refunding any and all money spent in the alpha. If you have a question about your refund, please contact help.ea.com.

We believe that Command & Conquer is a powerful franchise with huge potential and a great history, and we are determined to get the best game made as soon as possible. To that end, we have already begun looking at a number of alternatives to get the game back on track. We look forward to sharing more news about the franchise as it develops. Thank you again for your participation and support.

Even more surprising, the studio itself seems to be shut down, according to Victory Games Marketing Manager's twitter status:

What are your thoughts on the matter?