I don't think the game failed because the premise failed. I think it was mismanaged and milked dry. Opportunities for solid services were passed over in favour of a quick buck. Anti-cheat sucked for the longest time, and so did the servers. Indeed players were fed kool-aid about just how *much* was being done, how great the server hardware was, etc. You can't keep that up without creating a rotten climate, and we're still enjoying that climate right now.
You're suggesting the course the game has been on for years now is a course that players don't want to see changed. I think most players do. I hope the game will now take a step back from the piles and piles of sh*tty reskins and ARMAS junk and focus on quality. Quality of servers, netcode, balance, engine.