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I've realized this seems to be a real problem for every MMO that gets released.
Developers seem to underestimate how fast gamers can advance in their games. So, with many new mmos players blow through the content and find there's nothing to keep them busy when they reach max level. The consequence of this is that many players get bored of the game before it has time to mature.
So, what I'm asking here is what kind of system would you put in place as the released "endgame" in a new MMO. It should be something that is not only interesting and fun, but something that is worth repeating to keep high level players active while new content is being released.
Remember that there is a limit on development time and resources, so what you suggest has to be reasonable in terms of time and cost.
What kind of ideas can you guys come up with?