Yes I am bias.  
My favourite series of all time is Excalibur. The combination of Chris Claremont and Alan Davies brought me to and emerged me into the comic world. 
The original volume had great characters of Nightcrawler, Shadowcat, Rachel Summers, Captain Britain and Meggan. Three of which had already developed a great rich background and the addition of Rachel Summers opened up many questions, even Meggan was interesting.  
Yes, the title had more of a comic relief version of the X-men in the beginning but did develop into something so much better. The cast of characters was rich and deep with people like Wysdom, Kylun and Cerise coming on board. Their was so much potential but not enough readers jumped on board
The volume went for 125 issues plus annuals, one-shots and graphic novels and yet, it did stop. 
Then came Excalibur the Genosha experience.....that deserved to die. Had nothing to do with Excalibur and was just tripe. 
Along came New Excalibur with Psylocke jumping on board with Sage and  Noctunre. Hell, even Juggernaut was part of the crew. But this too succumbed to the Marvel axe.
 
Now is the reason for its discontinuation because people from the USA cant take on board a foreign team, or don't feel comfortable in a country they are not familiar with? is it because writers struggle with references not in the USA? Or is it simply fans just don't like the characters?  
Personally out of my 5 favourite comic characters, Nightcrawler, Shadowcat and Captain Britain are all from Excalibur. Having a team not based in New York, Chicago or wherever leads to the opportunity of new story arcs, new direction (say the UK makes superheroes part of the European UN forces) and just a chance for an fresh look.  
Being based in the UK also had is great advantage of the deep and rich history of England, France and the rest of Europe. Magic is of course the obvious link but the history of the area could help with stories, characters and excitement.
 
I just feel with all the cross overs of the X-titles, they could have kept Excalibur separate. Readers are able to follow one book that have great characters and an opportunity to have great, new and unique adventures that fall outside the USA Marvelverse. 
 
Guess thats my little ramble for the day.