They ripped it out because their "backwards compatibility" was literally just grafting an NES to the SNES. I think it even had a toggle switch you had to flip between the two. It was going to make the thing cost tons of money and nobody was ever going to use it, and anyone who cared could just plug their old NES back in whenever they wanted to use it.
But the people who didn't upgrade never got to play Star Fox. Man, I love Star Fox.