There may be some wailing and gnashing of teeth from a hardcore few, but the truth is that the only continuity that ever actually mattered is the movies, because that’s the only continuity the general public is even vaguely aware of. Maintaining two separate continuities just sounds like hard work so why do it? The fannish obsession with continuity as an end into itself has always rather baffled me.
And lets be honest the Star Wars Expanded Universe is a morass. There is some good stuff in there certainly, but also a lot of dross and they’ve essentially locked down thousands of years of continuity including well into the future past where Episode VII is going to happen. And you’re never going to spin me a scenario that makes that a positive thing.
On the other hand they’ve carefully left open the possibility of grabbing characters from the old EU and using them in the new continuity. So I guess they get the best of both worlds.