It makes sense....
No, it does not. If there were not enough, it would be a) because players played but left, b) players did not even start. Now P2W is not going to help a), because players left for other reasons than subscription (they would not start if they did not like it), such as not liking design, not liking bugs, having attention span of 1-2 month etc. More importantly, it's not going to help b), because you still have to buy the box to start playing. If they needed new players really really badly and fast, they would instead offer free download & X-day trial to remove barriers for entry and pontentially hook any player with even slightest interest in the game.
So, I am more inclined to blame it on greed, if not outright evil masterplan
@Tandor the problem with this is that ZOS has not said that was the reason. There is also the fact that new content has been withheld since at least July that will now be sold as DLC. This was a long time in the planning. The fact that microschlock didn't go along with what zos wanted may have been the straw that broke the camels back, but this was planned for a very long time, probably before the game even launched.
ZOS now has serious credibility issues. The are making a grave error by failing to address this.