I hereby classify what has transpired as that phenomenon known as 'hype fail'.
An example of an earlier one -- In WCW, in 2000, there was an announcement for a big ... announcement, at a pay-per-view. And there was much hype about this big event, which history later suggested was supposed to be the introduction of the new for-real owners of the company, ClearChannel if memory serves.
But the deal fell through, so they had to deliver something. And they delivered... exactly what fans did not want to see, Bill Goldberg turning heel. The only reason why buyrates and ratings didn't plummet was because there wasn't that far to plummet at the time. (I choose not to mention the fate of said company only because I don't want to be that alarmist and appear to be invoking that much of a comparison.)
Here seems to be another case, though in my opinion, in context, it's not nearly so epic a fail. But it definitely is a blatant fail for one reason -- no company hypes in advance a closed beta. I think I can state that as a fact of the business. DCUO, when they delayed the release of the game, began hyping the beta at that point, but they didn't promote it as a blind item beforehand.
This by itself doesn't bother me terribly, however, in comparison with the BioWare Bazaar fail last year, I am worried that BioWare is going to lose customers from here who may be seeing a pattern -- the reveal never living up to the hype.