Because the playerbase exploded due to the WoW Exodus and New World losing like 90% of its playerbase.

There's a pandemic.

There are chip and semi-conductors shortages.

Furthermore when players get on they stay on for hours on end because the game is fun. You cannot get in until someone leaves.

You were warned about this months in advance then weeks in advance before Early Access even started.

But you're free to unsub if you aren't satisfied instead of crying about your sub being wasted.