I’m not saying a small population is always better or that all small MMOs are thriving. My point is that a larger player base doesn’t automatically mean a better game experience. A game can grow so large that its original community and culture get diluted.
And as for server costs, my argument isn’t that ‘low costs = good game,’ but rather that more players also come with increased costs, so the idea that ‘more players -> more money -> a better game’ isn’t necessarily true. That extra revenue doesn’t have to be reinvested into making the game better—it could just as easily go toward other things, like a CEO's yacht.