FWIW Reason attributed his release to a terminal case of the yips, which I'm not buying, because I've seen practice videos of him sending powerful and accurate long snaps at a target.That was speculated, but never came from any reasonable source. My guess is he just wasn't anything special. Remember his last game, he cost the team a field goal attempt by rolling the snap back to the holder.
Then, every street free agent who took turns filling in from the PS were pretty much flawless.
If it's not his health - and as I said, that appears to be fine, I think it may be a change in philosophy due to the new ST Coordinator. Perhaps they want someone who can contribute more as a tackler after the snap, given the ease with which they replaced Ferguson with street free agents? Turning over stones for our next John Denney, if you will.