Themeparks run out of content. I know this. When I reach the end of content I want more to play through. Instead of immediate new content I am forced to run on the gear treadmill, slowly gaining small upgrades for a huge amount of effort invested. After raiding 5 days each week for months I might have the best armor and weapons in the game for my class... until the next expansion.
This is why the gear treadmill is so unappealing to me. Why work my ass off to be the "best" on the server when the playing field will be leveled come the next expansion? And that next expansion is always on the horizon for any MMO with a decent following.
As long as I am max level it won't matter what kind of gear I have when the next expansion hits. The MMO developer will want everyone at the max level to be able to participate at the max level +1. Therefore, the content will be tuned to the lowest common denominator; someone who has newly attained the max level.
They want everyone to buy the expansion, so they need to create an expansion in which everyone can play.
This is one of the reasons some people rush to endgame. They want to feel special and be the best on the server. They don't want to admit that they are the same as everyone else again, even if just for a day. They need to be "hardcore" and I think that is a little sad.
I tried raiding for a few weeks and determined it wasn't for me. Too much effort expended for too little reward. I quickly realized I was on a treadmill and felt that I was being held hostage for my monthly subscription money. I did not enjoy the feeling.
So, while many of you run full-speed ahead on that hamster wheel of raiding, I'm spending my time with other games, hobbies, and pursuits. But - once that expansion pack draws near - I will be there with you, on the same level, enjoying the same content, and paying my monthly subscription fee once again.