I think the Saudis are realizing that this thing wasn't having the positive impact on its reputation like they anticipated and have come around to seeing that it is a waste of money.
Of course, and to your point, in order for it to help their international reputation people at least have to be aware that it exists, and a certain amount of people need to follow it. Making money was never the point of it but if so few people are following it to the point where it doesn't even register on people's radars, they'll shut it down.