And the person that created the product that was canned because nobody used it goes to the new team with their reputation intact and the company ready to give them more money?
Yes. Performance reviews are short-term focused, so by the time the bureaucracy gets around to formally cancelling your old project, it will have probably forgotten that you were the one who created it.
Add to that a healthy dose of toxic positivity and "blameless postmortem" culture, and the fact that you created the product can actually still be used as a good thing on your CV. You did fantastic work! The product was flawless! It just happened to be a total failure for... some unrelated reason. "Shifting business priorities", maybe, or "unforeseeable macroeconomic conditions".
Add to that a healthy dose of toxic positivity and "blameless postmortem" culture, and the fact that you created the product can actually still be used as a good thing on your CV. You did fantastic work! The product was flawless! It just happened to be a total failure for... some unrelated reason. "Shifting business priorities", maybe, or "unforeseeable macroeconomic conditions".