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The reason Wildstar has been a failure and will not last for much longer is an obvious lack of understanding of how business works.
You either create something to appeal to the masses and hit volume sales e.g. a game with a broad appeal to all types of players (but you must still do it well for you are competing with others for the same customers, so you need quality and USP), or, you appeal to a small niche with something that is so good, the majority of that niche will come to you to purchase.
Wildstar went for the niche and by having an endgame focussing on hardcore raiding, that's their small target of players to aim for. But it's not enough to sustain a business model for a game that obviously had a lot of time and effort put into it and will have huge ongoing dev costs. They also put in a major flaw to cheese off their niche market by making the questing grind so bad. The quests are just in your face, full on tedium, over and over with no meaning to them - the worst kind you could get. Probably the worst kind of quests to give hardcore raiders as the stick before the carrot.
Wildstar has made it difficult to get those niche players and keep them - and of course, there are other games vying for those same gamers.
At least EVE has a niche with no real competition - Wildstar does not.
The success of WoW is partly down to first-mover advantage and an IP that everyone recognised i.e. Warcraft, but they also cater for all playing styles. You can be casual and you can be a hardcore raider - and what they do, they do it well. So Blizzard have a huge potential audience whereas Wildstar has to be damn appealing for it's much smaller target.
Wildstar cannot now be recovered unless they change their strategy, accept losses and re-market a more casual game. And, tidy up the awful questing.
Otherwise, there is no hope.