Why is this discontinued???? What happend to this thing, does anyone know?

I seriously wanna get my hands on one so badly...
You mean a maestro echoplex? They died out with the Dinosaurs and Jesus and all that other shit.

They existed from I think the middle sixties until the middle seventies, with later echoplexes being totally solid-state, and not as good.

BTW to make echoplexes quiet enough to be sellable, Gibson/Maestro had the output perma-wired to a capacitor, hence why they have 'legendary' warm repeats.
You can get an old used echoplex EP-2, 3, or 4 for a decent price on ebay if you're patient.
Fulltone Tube Tape echoes can also be had used for $700 ish if you want a newer and more reliable model tape echo.