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First, it was the game in general. I loved the ice monsters attacking the main city but really disliked the leveling in general and the overall feeling of boredom I felt and the anti-friendly attitude of the general population (don't worry, I get that in most mmo's). Then when the 'design your own scenarios' feature came into the game I was back with a vengeance only to find that it was mostly a tool of exploitation and not a creative effort. Then came too many superhero games followed by just too many mmo's in general. Many mmo's will follow COH's fate I'm afraid.
I blame us, the players though when all is said and done. If a mmo doesn't keep a certain level of population going at all times eventually it will crumble because once we fickle players who jump from game to game can't find that social niche for themselves (ie masses of other players to interact with) they move on, declare the game dead (or will at least post..is this game dieing?.... and move on. It's not the game they want but the players they need. RIP COH.