EVE, because it’s a sub-based MMO, is ruled by the majority [..], while LotRO is ruled by the 1%.
Not only when it comes to MMORPGs is it important to understand how little $1000, or even $10.000 are worth to you if you own a million or several of them.
The problem with Syncaine's argument, of course, is that Eve is also heavily influenced by the 1%. Until Monoclegate, however, they used a system that allowed them to keep the quality high while also catering to the 1%. It wasn't perfect, but it was certainly better than mictrotransactions, let alone pay-to-win stuff and LotRO.
Last but not least, call me a socialist if you want, but I always enjoyed the equality of opportunity in MMOs. The fact that power and coolness of the avatars was separated from the power and coolness of the players in real life. You were what you played, not what money/appearance/education you inherited. Some of my best MMO-friends were people I had never met in real life - where we live in different spheres.