Sure, but the main contributing factor remains that nobody used it. And the widespread schadenfreude I suspect is mostly due to how blatantly obvious it should have been that nobody would pay for CNN+.
… and I am in a much more desirable demo …
I have no idea if the service would have succeeded under different circumstances, but as OP stated, this was the rushed pet project of outgoing executives during a merger. Any outcome other than DOA was highly unlikely.