People keep looking at it based on what they know or have achieved in the game as of now using that as a measuring stick of whether or not the game "has enough content".
We've all had up to 13 months to play the game sub-free. A lot of people have been through and completed a lot of content in that time. By the time subs roll around, it will be about 15 months. That's up to 15 months for people to have played numerous jobs to 50, to have completed a bunch of content, completed dungeons, defeated raid bosses and so forth... From that perspective, of course what's being added with 1.2 isn't going to seem like a lot.
But it's not the perspective of someone who's been playing for all that time that, I believe, Yoshi and SE are going on. I believe they're going on the perspective of what someone just starting from scratch, having never played the game before, would experience in FFXIV as a launch title.
If SE had delayed the launch of the game until it reached the point 1.2 will bring it to, or if it had launched in that state back in Sept 2010, we wouldn't be having this discussion, subs would have been active from the start, SE would have been moving forward with what 1.21+ will bring, and things would be progressing as they with any other sub-based MMO.
We'd all be starting from scratch (beta time notwithstanding), people wouldn't have multiple 50s already, many people wouldn't have done, or even known about much of the content that's in the game, we wouldn't have even reached much less defeated the mid or even high level dungeons, Ifrit, etc.
That's the perspective I believe Yoshi and SE are looking at it in. "How would this game rate as a day-1 launch title once the features of 1.2 are implemented"?
As someone who's already had many months to play and experience the game, one could not objectively say "It wouldn't be enough" because as a brand-new player, you wouldn't even know all of what the game offers, beyond the content immediately available to you at level 1.
Given what is in the game now and what will be added with 1.2, I think it's a very fair assessment to say that FFXIV would qualify as a launch-ready title, and will warrant the full monthly sub.
That said...
I notice people are now starting to jump off the "paying for beta" bandwagon, since that "theory's" been debunked by several people. So now they're conveniently changing it to "obsolete game".
One excuse is no longer valid, so you simply replace it with another. Well isn't that quaint.
How completely transparent can you be?