Lord of the Rings Online (LotRO) has doubled, DOUBLED, their revenue since going Free 2 Play (F2P). Many people said this was the end of LotRO. Dungeon and Dragons Online's success changing to F2P was a fluke. F2P does not work.
I suspect these same people will continue to tell us how terrible F2P is for MMO games. They will say "of course F2P versions of games make more money because all the crazy people have to spend more money now". These are the same people that will still be paying to play World of Warcraft or some old bastion of subscription gaming ten years from now. The rest of us will be off enjoying the many new worlds opened to us with the F2P model.
Of course, these type of people are and continue to be WRONG about F2P. MMOs are business propositions first, games second. This has always been the case. The business model that makes the most money is going to win. F2P works and makes money. Welcome to the real next generation; the free 2 play generaton.