a) Ubisoft MASSIVELY underestimated the number of sales they'd get (not likely, given AC1's success and Ubisoft's experience)
b) Someone MASSIVELY screwed up the load calculations and wasn't cross-checked (not likely, given what's riding on those servers)
c) They're being DDOSed (very likely, given how easy it is to get ahold of a botnet these days)
Ubisoft screwed up.
Even if it is a DDOS, they've still screwed up by implementing the system they implemented, which amounts to a single player local game requiring a 'Net connection to play. I was considering buying AC2, especially since I live here in Montreal and would love to support the home team, but I won't. I don't want to buy a game that can't be played, and thats what they are selling. A "Loading" Game.
http://www.eurogamer.net/articles/ubisoft-drm-was-attacked-a...
"Servers were attacked and while the servers did not go down, service was limited from 2.30pm to 9pm Paris time [1.30pm - 8pm GMT].
"95 per cent of players were not affected, but a small group of players attempting to open a game session did receive denial of service errors.
"All players with an open session during the attack were not affected.