I remember watching this show when it first premiered, even then as a child I thought it was the oddest thing ever. A Spider-Man show set in an alternate universe. I do remember being disappointed that it was left on a cliffhanger though, as I did sorta get invested in the program at the last minute. Venom & Carnage playing major roles in the show no doubt were a big attraction for me as a child. Also the Batman Beyond comparisons of course.
Reading up, it looks like it was cancelled not only just due to ratings but also because of Marvel's bankruptcy, which caused The Avengers: United They Stand (a disaster), and the Silver Surfer to be cancelled for the same reason.
If I remember right, FOX had the rights to do a Spider-Man cartoon, but Marvel didn't let them have a lot of Spider-man's rogues or supporting cast. So they did the best they could.
No Fox also made the Spider-Man Animated Series, they could still the characters rogue gallery, and in fact John Semper proposed a sixth series, but Avi Arad decided to go ahead and made this little oddity instead, that was sorta like a sequel to the animated series.
"A mini-series was actually supposed to take place after the series finale, in which Spider-Man journeys with Madame Web backwards through time to find the missing Mary Jane Watson. He would have ultimately found her in Victorian England with amnesia and she would have been hunted by Carnage, who was also trapped in that time period and was impersonating Jack the Ripper. Once Spider-Man had stopped Carnage and had left with Madame Web and Mary Jane back to the present, Mary Jane would have regained her memory and ultimately admitted to Spider-Man that she had always known he was Peter Parker, which had been hinted at throughout several episodes of the animated series."
That's from the IMDB page of the show. Not sure how much of it is true though or where the info is actually coming from.
I believe John Semper said that in more then a few interviews, but it didn't come to pass because Fox felt that the 65 episode limit was enough or something.
I only remember how weird this show was going from Spiderman TAS to this was just WEEIRRRD for me as a kid. It looked cool though.
Also funny to hear Lady Vermin voiced by Jennifer Hale considering she voices Black Cat in the previous Animated series.
Hale was the only returning voice from Spider-Man: The Animated Series, since this show was done in Canada like a lot of other Marvel shows at the time, instead of L.A. like with the 94 show.