If you want to latch onto false logic, I can't stop you. But I sincerely hope Yoshida and the development staff utilize better wisdom when concerning the future of this game than what you're expressing.
First off, every single character in League of Legends is purchasable by in-game currency. Only skins, an optional piece of content that has no impact on game-play, is only available via real life cash, and there have been free skins released as well. So your argument of trying to lump League of Legends into a pay to win model is false. Balancing tweaks to that game is constant to keep older champions balanced.
And the major difference between Guild Wars 2, and the other games is the fact that the model STARTS free to play bypassing the whole concern for the 'rise to folp' issue on companies who built the game reliant on subscriptions. (Yet failed even with the budget you think made these games better.)
You also seem to forget that even all these others that have come out that 'failed' in your view, still do better than FFXIV in its current state, and other games gone free to play, while not the WoW killer they claim to be, still pull better numbers than FFXI - Aion is an example of this.
So yes, we've been here before. They're doing better than FFXIV, including the ones that went free to play. And Guild Wars 2 is actually starting out on a different foot, which may even be the right foot compared to those that preceded it.
Do you think FFXIV will survive as a subscription model when games with superior numbers to FFXI are switching over? FFXIV has gone through two major development cycles now, with only a year's subscription off of a skeleton player base to offset the cost. The outlook is doubtful, even if I am confident in the quality of the game we receive - I am not confident in the wisdom of maintaining a subscription model in the face of all the hurtles this game must face.
This sort of revival is the greatest challenge any company in this genre has ever had. You're going to have to sallow the fact that F2P is possible in this game's future if it doesn't have a monumental success. You can disagree on whether or not it will be better for the game overall - or the direction the genre is taking. But trying to embrace inane catchphrases of aged and outdated wisdom as your impenetrable shield is just willful ignorance.