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First of all: Even if there are good fantasy MMOs, fans of classic scifi wouldn't enjoy them much. And scifi games face unique challenges. While for a Fantasy MMO a kingdom with population of 600, a world you can see in a day while traveling horseback, etc is fine and nice, but for a classic scifi MMO size does matter. We speak about many systems, planets, etc. but the feel would be lost if the game is restricted to a few blocks.
For this: amount of content to explore should be significant, and for this some proceduraly generated content should be present, but it isn't present in the game.
But being a good scifi game doesn't make the game a "good MMO" as well. One of the benefits of MMO scene is: You can meet many different people, who can react to your character, etc. Star Trek Online. When I seen character creation the game looked very promising with many customization options, and I realy liked it.
When I seen that the character appears the same way in several areas, I was realy happy.
When I seen everything is instanced, and my chances to meet someone, etc can be limited to it, and the "MMO" features are limited to a small bunch of people and a party finder, I said: This is what we get in normal multiplayer games too without subscribtion payment.
Subscribtion payment and microtransaction for an instanced game with pretty limited amount of content to explore? That seems to be very bad value for money.
Graphics can be nice in some aspects, but just wait a bit.
In an MMORPG games, you don't want the best visuals, since you want acceptable performance even in areas with sizeable PC and NPC population. With hundreds of players around, several character models shown... and a huge area to explore.
In small instances you can get the same quality of graphics that you get in modern FPS games. And this is bad news, since the game doesn't have that good graphics.
Subscribtion payment can be one side of the costs for MMO games. Centralized infrastructure can lead to performance issues (lag for example). The question is: what do we get for the disadvantages of MMOs, if the advantages of MMOs (for the customer) doesn't appear strong enough in the game, then that game can be a weak MMO.
While Star Trek Online can be a solid game, and can be much more fun than some competitors (like eve online) if we check the content, its limitation and instanced nature makes it a bad MMORPG, and once you have done the quest and explored the areas it is hard to see a motive to keep playing...
On the plus side: People who want to play a Star Trek game, can do it now. For them, these extra costs and weaknesses shouldn't be that important.