This is getting really depressing.
from their website:
"Two and a half years ago, inspired by the DIY creativity of a growing number of indie crafters, we launched CRAFT Magazine along with its companion website, Craftzine.com. Since then, we've become an integral part of the new craft community. We've been fully committed to encouraging more people to discover the joy of crafting."
.....read the full post here.
UPDATE: Craft is no totally extinct - online version is here to stay! Yay!