Sometimes a series could not be a hit until the real story started to fold out. However, streaming services or channels should have enough vision to keep that show on air because some shows could make them proud to be in their collection.
Like Breaking Bad, until the third season finale, it was not a hit but when season 4 came, everyone was talking about breaking bad and that show give amc a lot of credit for their future work for viewers.
The peripheral was a good series, with very interesting story line, good visuals and with their cliffhangers.
Prime would be wise not to cancel this show since their collection is not strong, they do not have very big hits or more than a few critically acclaimed series. But they chose to cancel the show after one season. Of course the series was not perfect but still was better than most of the series that airing now.
Netflix also keeps making this mistake for sense 8, the oa.. etc.
As viewers, we are losing our trust in this streamer services to connect with any series, because we do not know if they will come back with a new season or it will be canceled with too many questions and unfinished mysteries.
I hope prime will not do that for the wheel of time.