The major problem is that MA saw $$$ and started selling ''virtual shares'' of total revenues, ie. new planets, and over expanded to rapidly. You can talk about making loot better but what made it good was when there was a community and everyone was cycling on the same servers allowing for more cash flows.
With the small community so spread apart on so many different loot servers, it takes more luck and timing to find any notable HoF's therefore a lot give up.
What one poster said was make auctions global, now I concur that this is a brilliant idea but realistically implausible as MA wouldn't want people leaving Calypso (one major reason why it's hard to populate the other places is a lack of auction market)
What another poster said is that it isn't about bringing new people in as much as player retention. I think this games to be simplified, meaning less planets, less servers, less items, less everything, in order to make the community what it once was. Once there is a community, and cash flows get circulating like they did from 2005-2009, you'd see a lot more people staying. I know personally one of the major reasons I stay is because of my Society
How this could be done is simple: Have a gigantic robot war in space and an Invasion of all the planets then say in the end the robots exploded a few of the planets but save Calypso, Foma, Cp, and Arkadia