My suggestion is the contrary; boycott the cash shop. But then, you're from Balmung. We don't really expect any amount of self control from that corner of the game.
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Don't know if you're talking "hypothetically" or actually intending to buy everything, but it's much better to just buy things as you want them, instead of everything at once and then potentially not using it.
When do they have 50% off sales? I've only seen them do 30% off.
I think $20 is an overstatement, but it's been said for years that for F2P games most of the revenue comes from a smaller portion of the playerbase. Even if only 29% of your players spend money, as long as they spend enough you make way more than the basic operating cost. Then there's the 1% made of whales, the ones that go into the thousands per year and are worth several regular customers. Another thing is that the whole point of microtransactions in F2P games is to keep enticing that remaining hypothetical 70% with small purchases (that added up end up being not so small)
I know someone who spent $8,000 in roughly two years on a F2P play. And someone on the BDO forums bragged about spending several thousands, claiming P2W is a fair option for people who just "don't have time to play". Speaking of BDO, a single outfit will cost you at least $30 USD. And that game releases virtually all its high quality glamour options on the cash shop. In fact, I don't believe they have added anything to the base attire in five years. You want to look pretty? You're buying it. Housing? Almost everything is on the cash shop.
Regardless, to give you a perspective on just how insanely profitable micro-transactions are, Activision Blizzard made four billion dollars through micro-transactions alone just last year. 50% of that came from console and PC games. This means they made more money from add-ons than most games themselves generate combined.