That is part of it, but there is also what I pointed out. The phone seems to disappear intermittently from Moto's site, then reappear again in a few moments. I'm talking when you click the Smartphones tab and look under the Droid Series. Sometimes it says (6) and the Bionic is there, other times it says (5) and it is gone. I know that doesn't confirm anything, I didn't say it did. But it certainly seems to suggest something, and is DEFINITELY information direct from MOTO. The only unclear thing is what it actually means.
Also, there's BMX's comment earlier tonight where he indicated that he heard some discouraging things about the phone from his sources, and that he would have to check. I will admit that the phonearena thing isn't substantiated, and I don't consider the broad origin "from deep within Motorola" as sounding very reliable.
No one's trying to argue, we're trying to speculate. And the fact is, there are a lot of things right now that are pointing to its being cancelled, or at least that a number of people with the power to make such decisions want it cancelled. We're speculating and that's the direction its going, nothing more.