I would be interested to know that actually. I would actually quite like it if the NFL decided to relaunch it. If it wasn't due to a lack of interest, then I think it could actually be quite the feasible venture, and the NFL could then sort of expand further and create a World Cup to determine who the best in the world really is.
My take on the main reason:
1. The presentation:
They made them wear stupid "soccerized" jerseys so it didnt look like serious football.
2. Aging soccer stars.
They got retired soccer players to play as kickers. This made the press and casual sports fans laugh i.e. if a 50 year old with no experience and a beer gut can play at pro level the sport must be rubbish.
3. This is a big one - wasnt competitive.
Players didnt earn starts or playing time on merit. The NFL teams sending them on loan specified certain playing time. So wasnt the best players on the roster or field - and often mid way thru you'd get an unexplained QB change. NFL didnt realise European football fans know football and know when its not meriticratic. Interestingly the WLAF version had proper competitive training camps and rosters which delivered a better product on the field.
4. Poorly paid players.
$10,000 per season. Wasnt good enough to attract fringe NFL players between teams. Old WLAF was paying several times this.
5. Poor local players.
Related to the above. League wanted to promote local talent, but the salaries on offer did not entice players to quit the day job. Even better European leagues often paid star players more. I've a friend who twice turned down NFLE contracts including guaranteed playing time as you couldnt live on the wages.
6. Subscription TV.
Poor product, but they only put it on subscription cable TV. Should have given it free to national networks to encourage a following.
7. Taking on GFL head to head.
German teams were well supported so they decided to put 5 teams in Germany going head to head with GFL teams - often in the same stadium, with team playing in similar colours to the GFL team. GFL reacted by discouraging support for NFLE. German attendances dropped from 30k plus to less than 10k almost overnight.
8. Lack of partnership with local Federations.
Originally deals were struck with national federations in Europe to work together and promote the sport. This initially worked well giving NFLE access to 10,000s grass roots fans. But there was a change in management in NFLs international development and they renaged on the deals deciding they knew best (not the locals involved in grass roots). The new approach had no local buy in or knowledge and flopped. The renaging on deals caused bad will locally and contributed to drop in attendances.