That doesn't sound like canceled to me, it just means that for right now the US Military has fewer aircraft on order than they originally did. It doesn't mean they can't or won't order more in the future. An advanced fighter program can't be flipped on or off like a light switch. These aircraft will be in service for 30 years at least and an entire industry exists to support them.
Gates capped the F22 run last year. The cost benefit for the original procurement run was to great.
The F15, F16 and F18 production lines are still open if we need to crank out fighters.
The F35 is still in hot water due to cost overruns and schedule slippage.
Joint service multi purpose aircraft are useful, but many times the trade-offs have compromised the capability. The F4 Phantom had serious comprises that impacted it in Vietnam; same with the F111 Aardvark. The V22 Osprey has had issues, partly due to the multi service requirements that had to be built in.
The C130 Hercules is about the only one that has well served all service branches plus the Coast Guard (that I can think of).
The Russians have great aircraft designs - their manufacturing capability leaves them always a generation or two behind.