You make some good points, but you didn't hit home on all of them in my opinion.
Mainly, yes, you need to please the masses. The reality is we have two main camps of players that tried FFXIV. We have the wow heads and their cousins, and we have the ffxi players. Both expected certain things but neither really got what they wanted. The wow heads all went back to wow, and we're left with the old ffxi players, who do expect certain elements from ffxi, because they worked there, and that's why they're playing this franchise of online games.
There's more to this than just following the traditional FF path of creating new games. The world of single player rpgs and that of mmorpgs is very different. What you can get away with in a single player game you can't get away with in an mmorpg. What you're suggesting is exactly what SE did, and it very nearly cost them the entire game an irreparable damage to the franchise if the game actually did fail.
The reality is, most people here have played ffxi in the past, and are playing here now in some part based on that fact. While no one really wants to play a graphical upgrade of ffxi I don't believe, I think there many who have certain expectations of ffxiv based on their experiences with ffxi, and certain other expectations based on what they liked from other mmorpgs they played.
Personally, I like the direction the game is headed in, from what I know of it. I like the fact that we seem to have a great deal of say as to where this game goes developmentally as well. And I think that a certain amount of development needs to go to pleasing the masses so to speak, and a certain amount needs to go to maintaining a certain vision and expectation of the game itself as it relates to the FF franchise. I don't think this game can succeed if those two elements aren't heavily considered and in relatively in balance with each other.
That's my 2 cents at least.