It's not so much the loss of two shows, but the loss of the original idea behind the channel itself.
I'll preface this with the admission that I'm not a fan of G4, not anymore at least. I certainly was when I first got access to the channel, but the years have definitely not been kind to the network or most of the programs thereupon. The only time I really tuned in during the course of this entire year was when they had E3 coverage, and I found myself barely able to pay attention over the massive amounts of hype and brown nosing that seemed to pervade most of the show. Still, hearing the news that X-Play and Attack of the Show -- both of which served as roughly the last original programming G4 actually had -- are scheduled to be going under in December makes me more than a little sombre.
I didn't actually watch Attack of the Show much, but for what it was it seemed to be doing a fairly good job. X-Play is the one that I can speak a lot about. Whether you liked their ratings or not they always seemed to be fairly unbiased in terms of actually pointing out the flaws in games when and where they found them (shocking, I know). They also had decent coverage of upcoming titles and some good exclusive talks. The humour for me was somewhat hit or miss, but for the period that I watched the show I thought that overall it trended towards good more than bad.
As I mentioned above though. For me this is less about the loss of these two shows, although that is a downer to be sure, it's more about the loss of the vision that the network had when it first aired. If you looked at G4 now, especially the American broadcast schedule, you'd be laughed at if you told anyone that it was originally a channel devoted to technology and games. And yet the original line-up, with shows like Filter, Arena, Cinematech, Cheat, Pulse and probably a couple of others that I can't even remember anymore, you could see the gaming aspect there, it was on G4's shoulder for Christ' sake.
The changes were slow, Cinematech disappeared, then Filter and Arena. They were losses, but there was still a lot of coverage. Until there wasn't. Now G4 is pretty much just another channel airing re-runs and schlock. I wish that it really weren't the case, but considering that the channel seems to be scrapping or dropping all of its game related shows I don't really know how anyone would see it any other way.
Of course, as I'll discuss at length further over the next couple of days, this is hardly the most troubling games media related news that has recently come about. This is just kind of sad in the "passing of an era" kind of way, the same as Nintendo Power. What's up next, not so much. Instead, it's something a lot worse.