It is a shame but it's not a particularly big loss. I imagine that there will be lots of reports now about how the show is in danger.
I think - with some justification - people might ask if this is the beginning of the end of the show. I have to say, i think it says more about the health of BBC3 rather than the health of Doctor Who (Who is still a massive money spinner for BBC Worldwide where as BBC3 is a money loser and doesn't have the arty cache of BBC4).