I agree fully. F2P is just a cheap way for EA/BW to milk people for money before the game dies off completely, that's all it is. Successful games don't go F2P within a year of release, only the games that failed do this.
The game has a ton of issues, and instead of devoting resources to fixing those issues (bugs, lack of content, core gameplay issues), they spent time on setting up F2P, because even they understand what a disaster this is and are trying to grab at what ever cash they can get before the end.
I was holding out hope, but what I've witnessed in the past two patches and what F2P is, I think you correct.
There will be content released that was held back and/or significantly in the works already, but that's about it. It may even be enough to keep the game going for another year, but this game is just about brain dead.