I think the route was cut because:
1) We are still in a pandemic with 'work from home' still happening - this has totally changed the market. There is NO NEED OR DEMAND for a double daily return anymore even if it was Flybe
2) Pre-pandemic, this route offered onward connections on Flybe to Scotland, Blue Islands wouldn't have had the same pull
3) Blue islands in general would have suffered somewhat from a lack of awareness and must spend a lot more on marketing than perhaps Flybe in the past generating interest for such a route
4) Road travel has become quite important during the pandemic as it offers people the comfort of being secluded in their own bubble rather than forced to wear masks and sit next to people with all the social distancing still going on