It's not dead, it's just taking a nap.
Shadow of the Eternals is being put on an indefinite hold according to Denis Dyack, Chief Creative Officer of developer Precursor Games.
The game was in development for the Wii U, among other systems, but has faced many problems on its journey. The first Kickstarter for the game was canceled shortly after being announced, and the second Kickstarter failed to reach its funding goal.
Shadows of the Eternals was planned to be the spiritual successor to Eternal Darkness.