Let's face it, World of Darkness badly needed a reboot. The new rules were becoming ridiculous and the canon made it virtually impossible for new players to get into the game, unless they decided to ignore it. And no company an afford catering to a dwindling number of old-timers without expanding their market, even DC and Marvel know that.
Besides, the ideas behind The Masquerade at least were becoming outdated. Globalisation ensures that that not all roleplayers will be white Christians, therefore they might miss out on the whole Kain joke, or be offended by the politically incorrect or even racist bits (clan Ravnos, I'm looking at you).
Finally, both games promised that the end was coming, and how long could postpone that?
I like Requiem. The vampires are powered down, the scope is more local (which gives Storyteller more freedom) and, most importantly, the player characters have the opportunity to enact change. Plus, I think they got rid of all the "let's be controversial for the sake of it" bits that plagued the old setting (vide Clanbook Baali).
There's a few things I miss, but if were to go back to the Masquerade today, it would probably be to tell a campy story of car throwing, rooftop chases and other Masquerade-breaking action, using all those over-the-top powers that VtM lets you have but never lets you use.
