While this is not necessarily a total death blow (user customized conferences could hypothetically "fix" it), I'd have to imagine this makes another EA college football game even less likely, considering the already poor financial state of the franchise and the momentum against it.
Even though this game brings ire to many people (don't really know why it bothers people so much, IMO. The games aren't bad), this was released and they show some good improvements. Fix some things that people have pointed out as annoying and such. I'm pumped for it, personally. Will probably pre-order when i find that deal over the summer.