Interplay isn't the same company it used to be. It's just a name at this point - barely anyone involved in the first two fallout games remains with the company. I was surprised that they even thought they could launch a Fallout MMO since the company is a shell of its former self with no real talent, no real source of funding and no real direction. They haven't actually MADE anything in over a decade. That they've managed to last till 2011 is a sort of bizarre achievement. It's a zombie company, in all but name. Shuffling around, but dead all the same, with all life (talent) having left the company ages ago.
Don't blame Bethesda for this: Interplay's woes started looooong ago, and if you have to blame anyone, blame Titus, who bought them, then bailed on them entirely when they went down. If Interplay hadn't sold Fallout then there wouldn't even BE an interplay right now - they survived only because they sold the IP to Bethesda. Hard to blame Bethesda for the death of the company when the company would have died in 2007 if it hadn't sold it to Bethesda.
They were never going to create a Fallout MMO. Or at least not a Fallout MMO that's worth a damn. MMO's (good ones) cost millions of dollars to make, and they require a huge team of programmers, testers and a heckuvalot of servers, data centres, finance processing teams and just a whole raft of support stuff. Interplay had none of that. I doubt they are even capable of making a flash game at this point.
EDIT 2: You know what? Interplay, post 2006, reminds me of.... and I hate to say it.... none other than Infinium labs. Both Companies said they were working on incredibly projects. Both companies had sketchy or no source of funding. Both companies are secretive, shady, and never actually release anything tangible. Both Companies still insist that they really are working on their projects, but in the end, that's about the extent of their work: The announcement that they are going to work on it. If I announce that I am baking cake, then proceed to do NOTHING, not even buy ingredients, for 5 months, am I really baking a cake at that point?
Like the Phantom Console, the Fallout MMO was little more than wishful idea that will never see the light of day. Barring an absolute miracle or Herve Caen winning the Lotto).
Interplay died in 06. What you see now is a shabby, zombie shell of its former self. The body is still there, but the brains are gone, long gone.
Frankly, they should just admit the truth - dreams over. It was over a long time ago. Time to wake up.
EDIT: Okay, I was wrong: they managed to release a flash game in 2010. So that's something at least. I guess. But seriously, go read the Interplay article on Wikipedia. It's really sad and almost bizarre at how the company, despite having no money, continued to issue statements and fund projects that were doomed from the start. It further re-emphasizes my analogy that Interplay is a zombie - a brainless, dead body that occasionally jerks and flails its limbs in a sporadic, barely coordinated manner to simulate life.