Don't give them a free ride just because they are Japanese, I don't care what country they run in they should still have basic common business sense. Square have made many horrible decisions that make zero sense and they keep doing it.
WoW is old but still the market leader, it's the top MMO in the world. How could this be, it's "old" right?
Everquest is ancient and shows no sign of ever closing its doors, it's still fairly popular and gets updates. It has a hardcore fanbase that love it it has devs that love working on it.
Lineage 1 (2003) is really old and beloved by the fans it has, it's one of the most profitable games Ncsoft runs and indeed one of the most profitable in the world.
I could list more like eve etc.
As you can see old in the mmo world is not a negative, only the company running it can make it so.
Old in the MMO market is good, all the most profitable and popular mmo titles are old titles, they beat every new title hands down. You know why? Because they paid for themselves long ago and they didn't have a 100 million development budget, they reuse assets and the devs can make content for these old titles easily. They are also not top of the line developers who need to push systems to the max so they aren't paid as much.
Old MMO titles are always the most profitable and easy to run. Whatever reason Square have for doing what they are doing it's not for profitability ones, maybe they think they can retain a large number of addicted players and not give them any content and as such save money. Maybe they have future plans for the game but wanted to see how many people stick around after they drop consoles and just didn't want to play their cards until they see that... I don't know but as of right now it makes no sense at all.
People have this weird idea and I keep seeing it that new in the mmo world is good, it's not. At least not in terms of profits. If people think FFXIV is anywhere near the top they are deluding themselves, I play it and I post on the official forums and I know how deluded a lot of them are about how the game is doing but again they are very wrong.
I don't know why Square are doing what they are doing here but it's not for basic business reasons, if they sold FFXI to another company I'm telling you right now that with how many players this game has spread over the many servers they could make it profitable and keep it updated very easily.
FFXI is in the state it is in right now because of mismanagement, there is no argument here about this because it's easy to list a large number of things they did and are doing to destroy the game and the players it had. The player loss was because of bad decisions the company made and continue to make, if run correctly FFXI would still be as popular as it ever was and I dare anyone to say otherwise.