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I think you are pretty accurate with the reasons many people are upset with the NGE system directly. There is a underlying issue however that never really gets mentioned, and that is the failure of SOE to address broken parts of the game while they appeared to be focusing on developing new expansions.

It is no secret the game was pushed live too early and the initial 4-5 months were spent adding mounts, vehicles and player cities. By this time the players began to notice some problems with combat balance and it soon became one of the main issues the players asked to be fixed. SOE then came out and nerfed the creature handler profession to uselessness, then promised they would be brought into balance in the next few months as the combat revamp occured. What happened is the revamp was put on hold while they developed the Jump to Lightspeed expansion, and all the cries for balance as well as issues with the galactic civil war went unheard. After the JTL expansion we had months of "hang on, we are busy working on the revamp" messages all the while the game withered. The original combat upgrade which was rumored to have been basically taking what the players had been suggesting was dropped suddenly in the early months of this year, then the current combat upgrade was pushed to beta and then to live with very little testing to coincide with the second expansion in 6 months. Now some 7 months later we still have broken quests from the second expansion that go unfixed as the devs worked on the 3rd expansion that was just released.

The anger you see is real, and the way the NGE was announced was the straw that broke the camels back for many, but the real anger for many is from watching the game go ignored as resources were spent on expansions instead of fixes. SOE and Lucas Arts were so busy trying to milk the cow, that they didn't see she needed a doctor bad.