The irony behind this statement is that MMO's didn't get popular at all or become a genre till they became more accessible and less on the time sinks.
Let me ask, why should I take years to obtain a relic weapon? Hardcore to take forever to just get one thing? It isn't rewarding, it is just "For crying out loud, finally I don't have to do this crap anymore."
I won't defend FFXIV, but making gated content and time sinks like FFXI is an even worse solution. It is basically asking to lose your subscribers and become a niche game. But hey, at least the mass minority of players will be happy, right?