I just finished season 1 a few minutes ago. Man, I'm so ticked that the television side was scrapped!
The story they were building toward would have been epic and so satisfying! Building on a tiny thread left in AoS season 4 was a genius idea (including reigniting the storyline in Runaways). I was getting attached to the characters in the show and really wanted them to meet Robbie.
My brain was going into theory mode as soon as it ended. Why'd Marvel have to shut these shows down!?
And as far as the showrunner's comments on the show's place in canon: my short response is that it is very confusing. And to whoever came up with the idea to say it's not in the MCU, I'll quote Fury, "I recognize the council has made a decision but given that it's a stupid @ss decision I've elected to ignore it!"
