Yep, to make room for the CG Ratweiler. They should call it the shark's teeth business model.

When Remington introduced the 788 model, 700 model sales suffered because the budget 788 was more accurate than (not superior to) the premium 700. Remington didn't want to become known as a budget firearm manufacturer, so the 788 was discontinued. I think maybe BKG discontinued the 711 to avoid a similar situation.

I'm probably completely wrong, but it sounds good to me.