It has indeed happened; Dragon’s Dogma Online, the even more obscure MMO spinoff based on the already obscure RPG from Capcom, has closed its doors for good. The shutdown was first announced back in July, but fans have reported that the title is indeed gone for good and no longer accessible for anyone, with several people wondering why the game was never localized in an attempt to gain a larger market share.
Regardless of the reasons for the lack of localization, it seems that the title is thus unlikely to find emulation, since there is not the crucial critical mass of fans to work on assembling rogue servers. Our condolences to the fans who enjoyed the title and hoped that it would at some point arrive in other regions; the one bright point is that this does fuel rumors about a proper sequel being made to the original game. (Also there are a fair number of fans complaining about the MMO having some rather egregious lootbox mechanics, which is impossible to really confirm now but certainly does help ease some of the sting.)