There are a two things people arent seeming to get about the model EA is going with here.
1. It will not be F2P, it will be buy to play with a freemium billing model. There is still the matter of a 15 dollar box cost that will keep most of the f2p crowd out of the game.
2. The free model is only there to get people who already played the game to return. Remember the quote by John Riccitiello that basically said the number one reason people left was due to the subscription costs.
The bottom line here is we wont see a resurgence in the population until EA developes and releases compelling content.
As it sits, I only stay subbed so my 7 year old son can play his way through the story on his guardian.
There is NOTHING compellin g about the endgame, the pve is too easy, and teh pvp is too repetitive.
No mini games, no world pvp, no compelling space experience....
The game isnt meant to be played like an mmo, and they have said as much. They expect people to play through the class stories they are interested in, buy crap from the item shop while leveling, muck around in endgame for a while, and stop playing.
"We have not focused on making our content replayable. We have taken a lot of heroic quests -- particularly the group quests -- and made all those replayable. What we have spent the most time on since launch is beefing up the legacy system, which is designed to get you to play the other really good content. We will probably continue beefing that up because it's our best stuff."
I dont see too much excitement in Swtors future honestly.
EA has pretty much chalked this one up as a fail, let go most of the staff, and given up on marketing.
The cash shop is pretty much there to milk what little money that can be milked from us until be get bored.
Two things you seem to overlook:
1. Servers are still live and kicking
2. New content is still being released with hints of other stuff in the works (Makeb, SSSP, Ilum re-work)
I'll lose hope if either 1 is no longer valid, or 2 fades away beyond what I wish to pay for.