And, obviously, (3) how do you recoup a multi-year investment across the period of only some months? Making games is extremely expensive and MMOs are by far the most expensive type to make.
I guess you could restart the whole thing to let new players join or people replay it. I am envisioning something like Mass Effect or Skyrim, which made money, but with thousands of other people with you. Perhaps I am underestimating the cost of the servers.