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Yeah, it was a shame, but he lived to about two and a half years old, which is apparently a normal life span for a common octopus. I think maybe you're thinking of lobsters? There used to be an Internet meme going round that suggested that they were effectively immortal (!), but in reality they only live to about 120 years.
Sadly they can't predict the future either!

Actually they don't live long at all. Even the giant Pacific one is only about four years, according to this book.
http://www.simonandschuster.com/books/The-Soul-of-an-Octopus/Sy-Montgomery/9781451697742
This requires them to be just about the fastest-growing animals in the world.

Oh that's too bad. I remember watching a doc about some biologists who went on the hunt to spot the infamous elusive giant oc and they found her, and it was magnificent, nature in all her marvel.

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