The biggest problem with Chainmail is the cost of the minis. If they had produced it, and the cost of the minis was competitive with the cost of other minis the rules for the skimish battle simply would have been a bonus. It would have made me very likely to buy some, even though I don't know anybody who plays. Logically, many others would have done the same and suddenly we are playing Chainmail. Instead, I look at the price and say, "I'm not going to shell out nearly double the price for a mini so I can get some rules for a game nobody plays". Everybody else says the same, and nobody plays.
The game can still be saved. Wizards just needs to produce it cheaper.
Alternatively, the game can live on through the rules alone. You really don't need to have the exact mini, just the rules for it and photocopy of stats for it.