The subscription based model is fine. The only thing I'd complain about is the fact that retainers is also an extra subscription which is quite vile.
GW2 for example is not subscription based, but will inconvenience you alot in terms of inventory space and QoL and storage. If you wanted these QoL you have to either grind (and they've been nerfing alot of the farm areas, rest in peace Istan farm, under the pretense that they know better and don't want you to be spending all your time there), so, you either grind for hours to get an upgrade or you open that wallet up.
If it's not subscription it'll be cash shop heavy and at times that cash shop won't be just 'uwu cosmetics and qol'.
This game won't shut down since it's in their best interest to keep it running so they milk it to fund other products. I don't believe much gets poured back into this game. They've been playing it 'safe' for years, taking the same MSQ formula, copy pasting it for every expansion. I don't believe they'd take risk with another MMO when this one hasn't died yet.
I do believe they might be choking their golden goose. I find the state of this graphical update unacceptable, especially with the lack of care given to the player characters' expressions and the bugs in the enviornment.
