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No indicator of when they will shut down. (They will, the devs just don't tell players when,it seems.)
Performance is pretty terrible right now, even on servers with a few people, there's lag and other issues.
Can't run dungeons and raids because nobody plays, therefore you can't actually queue.
That means endgame content is quite literally impossible to complete in the current state of the game for the majority of players.
The new gamemode you referenced was added months ago, in an attempt to bring more players to the game.
Obviously, all that did was alienate what was left of the playerbase, and barely brought in new players.
That's why they ended up announcing the eventual shutdown of the game(Both the F2P and paid version), with the most recent patch being the last one.
They're working on something else now, and have been doing so without telling players for months before they officially announced it.
TL;DR:
Game's dead, what's left is a shell of its former self, players stopped playing too as can be seen through SteamDB.
Devs gave up on trying to improve the game because it was essentially rotten to its core and fixing it would mean overhauling pretty much everything.
The players started dropping because the devs made a mediocre at best game.
Then the devs started working on the new gamemode thinking that would bring in more players because of F2P.
Players never wanted it, nor cared about it, so more players started dropping out.
It also didn't help the new game mode meant players were split over 2 games, instead of one, reducing playernumbers for each.
The devs started realizing they're bad at their job and stopped working on it.
Then even more players stopped playing.
They didn't run out of money.
They stated they have money left, and they've even been building a new project for several months while zenith was dying.
The game wasn't profitable because it just wasn't a good game.
It wasn't terrible, but it had too many flaws and poor design choices to justify spending money on it from a player-perspective.
While they may not have had 'hundreds of millions of dollars,' they had 45 million, which is more than enough to create a solid experience, assuming they know what they are doing.
A cash shop or sub only works if the game players would be paying for is actually fun and good, and not suffering from a lot of bugs and performance issues.
Even if Zenith did have a cash shop and/ or a sub, it would not have succeeded in the state it is in now, gameplay wise.
Zenith failed because it didn't understand what it was, what it should be, and what players wanted it to be.
It tried to do a little bit of everything, and everything it did was implemented poorly.
It lacked clear direction and quality.
Wow is an actually good game though.
You need a good game for people to spend on it.
If the gameplay isn't fun, there's no incentive to spend, because players don't want to play it to begin with.
The cash shop is irrelevant if there's no reason to play in the first place.