Well, I don't give Google a pass on not supporting the Galaxy Nexus, especially without giving any kind of reasonable explanation.
I bought a Nexus phone because I wanted to stay up on the OS - and that's the only reason I chose it. So why would I choose another Nexus now? Google has broken the promise, broken that social contract with me, so how can I trust them going forward?
Yes, I know that they actually dumped the update responsibility with the Galaxy Nexus on Samsung (at least here in Canada), but that is not an excuse and it definitely isn't a reason.
I would have considered the Nexus 5 before, but now, why bother. They may decide not to include it when Android 4.5 comes out.