I don't know about that. Some have been unprofitable for sure but if the vast majority was that unprofitable, I assume that you wouldn't see that many MMOs still up and running.
Anyways, speaking of WoW killers, if there is to be one new MMORPG to rule them all, I suppose it should have those requirements:
-Be released during the transition phase (I agree with RC on this)
-Be an extension of an already highly popular franchise; this also assume AAA polish (sorry to say it but, Mass Effect looks like a decent choice even following the recent perceived decrease in popularity. Another contestant that may not sound as obvious might be LoL.)
-Be more than a typical mmo rpg (decent attempt by Guild Wars 2 but still not enough....)
-Fully allow user's creativity in some way(think maybe Minecraft, Mod Nation Racers, etc)
-Do not base the entire revenue stream on traditional monthly payments systems (it's clearly out of fashion)
At least, that's what I can think off the top of my head.





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