I agree and so do most of those in the MMO community. No way will it happen.
I do think SWTOR could get back up to that 2 million mark IF they make some significant changes. I think F2P is the only way to inflate the numbers, but I think the true value is if they start listening to feedback.
Granted, some feedback is reviewed and acted on (not sure how, but it's happening).
That 1000 Papercuts is an excellent example of a model they should look into. A focus group working alongside with BW to develop a better product for everyone. Heck I'd jump onboard to help make it a better product and so would many others that love the game, but hate it's death spiral that it's begun. Signing NDA's and such would be in order, but it's worth it to BW to get engaged with customers. I don't think DEV's play this game themselves or more would be fixed prior to deployment.
Unfortunately, Bioware has always worked with "focus groups". They called them "internal testers". I say this is unfortunate... because its the internal testers they have been listening to all along. Bad decision after bad decision, was made in beta and currently, due to listening to these internal testers and not the people playing the game.