It is also a bit of a mis-labelling. According to this:Something about the phrase "cancelled elections" doesn't rub me right.
If the general population was left out of the process, no matter what the outcome was going to be... that feels a bit off.
Colorado Republicans cancel presidential vote at 2016 caucus - The Denver Post
(Which, BTW, originally ran last August.)
Republicans still will hold precinct caucus meetings in early 2016 to begin the process of selecting delegates for the national convention — but the 37 delegates are not pledged to any specific candidate.
They did have caucuses, where each precinct could decide who to select as a delegate to the state convention. Those delegates would then select who would go to the national convention. Their own policy of not honor-binding their national delegates was more important to them than a general/closed primary. If they had done that, then the delegates would have been honor-bound.
I can't say that it is an irrational choice. Unpopular, perhaps. Maybe even not very strategic. But, it does appear to be principled - avoiding honor-bound delegates.