I want to state the overarching point here: It defies all logic that a company who states their income is from in-game activities, would artificially create such a high barrier to entry to stop people from creating revenue. More players shooting bigger guns = more revenue. All I see is a shoddy attempt at money-laundering, otherwise the most inept business development team I've ever witnessed.
Most people only see me poking at MA these days, and to be honest it's really more tongue-in-cheek on my end; I've left any emotion I've had for MA 10 years in the past. However, it's still disheartening they managed to destroy one of the greatest, and obviously not easily-reproducible games on the market. Even 20 years later they have no real competition.
So why then is the game not more successful? Many posts already hit it on the head: the cost related to the enjoyment you get.
After loot 2.0, much of that fun was taken away. As well, with the advent of SIB and L gear the prices of even average gear is so inflated it's hilarious. The fact we used to have Orange Paint in the terminals and it's been as high as ~500% is a joke. Top-end kits for a long time cost around 1k USD, by the time I invested properly in 2005 it was around 3-5k USD, and by the time I took a significant investment away from MA we were already over 20k USD. What is the top kit now, 50k USD? 100k USD? I don't even pay attention any more it's so silly. We used to TT things daily that now cost in the hundreds of dollars.
A simplified account of course - being an RCE game there are many factors, especially those external to MA, that influence the prices. Simple supply and demand could be used in a real life argument, but MA has the power to create whatever supply they want at zero cost which influences the system artificially. Don't even get me started on the game-breaking bugs that allowed people to print money (both through bugged items and loot drops) which are never corrected by MA - they only sweep it under the rug. That's a huge red flag to someone who isn't at the top of the food chain, because it shows MA doesn't actually care.
I've never been a gambler, and although the returns are stated to be higher, the feeling is the same I'm sure as those decrepit people pulling on a slot machine for 12 hours at a time. It was more fun to be stupid and lose $20 in 20 minutes than to be stupid and be bored for 2 hours and gain 1$. At the very least, losing that $20 also had a good chance of you finding something that actually impacted your dopamine, which is the only reason we do any of these activities to begin with. With such thin margins everyone wants to get their pec, which has completely destroyed any real market related to crafting/mining/hunting.
Now it's just a boring, auto-clicker game of whales who are fighting to see who can be at the top. These same people will tell you of all the great opportunities you have to make money, which even a child with basic logic can understand that is not how the world works. 99% lose, 1% gain in systems like these, it's just a fact of life. Even putting your money in a low interest savings account is better than the ROI on anything in EU. I'm not salty about that fact either, but don't take away all the enjoyment the rest of us had for those chasing pennies, because in the end they won't actually keep the game alive. People spending 20-50-100 a month are going to far outweigh an investor who puts in 10k and withdraws more because they gamed the system. That's just money out of the bank for MA because not only did they lose however many players were affected, they never actually retained the "10k investment".
This is not an attack on the individual either, so please don't see it as such. If you enjoy and have the liquid cash to risk in something like EU, I can only ever wish you the best. The blame is squarely on MA.
It's a far more complicated discussion worthy of a real research paper to analyze all of the failings over the years. I've tried to describe the major impacts on an average player like myself who coincidentally finds their only excitement through gaming. To think at one point I was a top player for less than 10% of the current cost makes it very easy to not have a second thought about ever returning in a serious way.
I say all of this with a pit in my stomach, and embarrassed to say at one point Entropia saved me from myself. When's the last time you stopped and had a banter with someone in Twin while seeing how long you could last in the ring?
To answer the original question TL;DR: A good start would to be to actually drop items again and give players a sense of accomplishment rather than a daily grind just so you can invest more to lose more.
(I put this in sometimes not to sway opinions, or to turn you against MA, but as a fact of their incompetence: There are people in this game, quite a large number in fact, who used a bug to create more of something than should naturally ever exist. This still has a profound effect on the market 10 years later. MA knew about it, but they never admitted it openly, or punished those players in any form. So if you think MA has YOUR best interest in mind, you're fooling yourself.)