It also doesn't help that a MMORPG that ambles along with a substainable amount of players is still considered a failure for not attracting millions. I mean, Age of Conan and Lord of the Rings Online is still going, far as I know. They didn't attract millions of subscribers or (dare we dream, said the producers) overthrow WoW, but still puttering along after nearly a decade is not too shabby. I imagine that Warhammer Online might've managed to live on in some form if the plug hadn't been pulled. And clipped apart, and burned, and the ashes mixed with the concrete of nuclear waste containers headed for long-term storage. Eve Online isn't what it was, but that game seems to not go anywhere. In both senses of the word, regrettably, but not bad. Considering that it's likely older than some of its players. And there's Mr. Guild Wars 2 over there, mowing the lawn. Done pretty well for himself, might stay around for a good while. Good that he's not bitter that he didn't re-invent the world. Moved on with what he had. Sensible chap.
It's also a pretty risky venture, the MMORPG business. Wildstar was a nice attempt, but it was a mistake to listen to vanilla WoW veterans. Turns out that old school, 40 player, hours long raiding isn't what people actually want. Along with its other problems. I'm not sure how that game's going, if its set to move along with what it has or if it's floundering, but it can't have been terribly fun for Carbine. Star Wars probably had higher ambitions than Wildstar, but if not even a brand name of that gravitational magnitude can do a WoW 2.0, nothing can.
EverQuest Next didn't even bother to come out. That was a shame, and I would've felt like a proper chump if I had invested in that weird Landmark thing. Looked nice and colourful, and it had cool Lionmen. Oh, well.
WoW's ticking along. As always. Not as big as it was, but it's still there, doing stuff. Seems to have come out of rehab after its Orc-overdose. Bet'ya fiver that the next expansion will be Wrath of the Lich King 2.
But all in all, I think that the big MMO age is over, for a lot of reasons. There won't be another WoW, at least not in that kind of form. The next super big MMO will probably be tablet and phone-based (and in there is a debate whether it'll count). If nothing else because a lot of people had desktop PCs back when WoW came out that they don't have now. The people who do have gaming desktop PCs aren't likely to adopt a new online RPG en masse, either. It's done, chapter close, fun while it lasted.
I'd agree the genre has gone down the toilet. I wonder if it was ever a decent genre to begin with, or if it was just fresh and new so we didn't care that they weren't actually very good games...
Eh, they were good for the time. It was a novelty thing at large, but if it was genuine fun, they did what they meant to do.