Since I'm not really in tune with what goes on in the land of TV, I only found out about the cancellation from Mike Portnoy's Twitter account. I thought one of the replies to his tweet was kinda funny:
@MikePortnoy I wanted #Vinyl to be about music. Scorsese makes everything into an Italian mob show
I thought that plotline was a bit out of place the whole season, but maybe there is some historical relevance there.