Yes. I've seen tons of advertising, including TV commercials which is not frequently done for off-Broadway shows. They kept pushing this as a Bob Mackie-designed show. That was their main hook in most everything I read. Sure, that's a bonus reason to buy a ticket...but the primary reason? No.
This seems to be a case of being told from a large investor that they're committed, proceeding with that trust, and unable to scramble up the dough when they learned they lost'em. That's not an uncommon occurance; it's just too bad they didn't have the ability to fund it and has no other choice but to cancel altogether.
"The Spectacle has, indeed, an emotional attraction of its own, but, of all the parts, it is the least artistic, and connected least with the art of poetry. For the power of Tragedy, we may be sure, is felt even apart from representation and actors. Besides, the production of spectacular effects depends more on the art of the stage machinist than on that of the poet."
--Aristotle