The problem with the Ultimate line at the time was that one of its biggest architects, Mark Millar, left with a big void in his place. Marvel wanted a big name to replace him and Loeb was at the right place, at the right time (just finishing his exclusive contract at DC and signing with Marvel). Aside from Bendis' stable Spider-Man book, the rest of the line seemed to go nowhere. FF and X-Men sold poorly and Ultimates just lost its big creative team. Even with big events attracting readers, I doubt many people still cared for the Ultimate universe enough to read such a book, and Loeb was the big name Marvel decided to attach to the project. Events may sell big, but see how many non-star quality creators have been working on them in the last decade. I think the only exceptional creator is Greg Pak with 'World War Hulk', and even then he got John Romita Jr. on art duties.