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There is no amount of spin that can change this fact. SWTOR cost over 150 million dollars to develop, came cruising out of the gates with 2.1 million subscribers and is now below 300k, some say under 100k subs.
That is a drop of 86% in less than 9 months which is a disaster for any company offering a product whose income model is based on a monthly subscription fee.
SWTOR did not go F2P because it is the model of the future, it went in this direction because it is an unmitigated disaster and EA/Bioware are now forced to resort to desperate measures.
Time to join reality people, this game is a total failure and will most likely be shut down by Q1 2013.