Not that I'm a soap opera fan, but I don't like seeing any network that airs programming for grown-ups being chucked aside for yet another kids channel. SoapNet was good for actual soaps, some replays of newer series, including Canada's entertaining Being Erica, and they used to run some classics series and soaps, including the still-playing Ryans Hope, the only soap I ever followed (for a while at least).
Check out this article from The Hollywood Reporter for more information on the unfortunate changeover.
Disney dumping SoapNet to make way for kids net -- The Live Feed THR
Also here's another account of the change at TV Week, plus a link to the Disney press release.
I guess kids are never supposed to go outside and play anymore. Hey, I love TV more than most people, but one would think that children ought to actually leave the house occasionally and get some sun and interact with real human beings. Too many kids-targeted networks already!
Between the kids networks and the paid programming, sometimes there just isn't much left for the rest of us!
As always, there's only one explanation for this: Follow The Money.