All editions start out with a peak of sales which off over time. So of course the peak sales of nWoD are higher than the tail end of oWoD when the all of the really popular topics have already been covered. What I'm arguing is that nWoD peaked lower and dropped off faster than oWoD.
How is oWoD more suited to an MMO than nWoD? If that is so, which of those reasons don't also make oWoD a better RPG? I can also assure you that popularity is the most important thing a brand has. The fact that oWoD still has enough popularity to even be considered for a new MMO means they think it is a stronger brand than nWoD. Business decisions are based on perceived potential sales, not the "quality" of the game.
Yes, the industry has changed. And the players in the industry have adapted. D&D is still a top brand. WoD used to be #2. In the last decade it has declined dramatically. In an industry where niche games like Traveller and Earthdawn have a stronger 2011 release schedule than WoD, I can only conclude that WW has failed somewhere along the way. Vampires are still popular. RPGs are still popular. Why do you think White Wolf has fallen so far? Dresden Files was the number 5 brand in Q3 2010. So whatever happened to White Wolf?