In light of recent events

I think failing to gain is more the case. Which is why they are going into high gear with the NX events... because they ARE relying on it to survive. The problem isn't also less players, but we are spread out thinner and thinner between more servers. Thus, there's isn't going to be an overpopulation issue.

Part of the reason they are not drawing players in, IS that everything is so focused on NX. New players soon realize that the only way to enjoy the game is by purchasing NX. Granted, enjoyment is different for everybody, but for a good portion of MMO players, this involves levelling up at a reasonably quick rate, with access to cool items.

Which is why, despite MS' "better" graphics, people flock to RuneScape. To get the full experience (because honestly, F2P only has access to maybe 30% of the game) you only have to pay 5 bucks a month, period. No extras, no recharging, just 5 bucks.

I've come across this in any game that allows players to spend real cash on an "as needed" basis... the economies get screwed, and eventually people who cannot afford to pay real money will get screwed and quit. They would have done ten times better if they had set themselves up initially as a game with a monthly fee.