As much as I see potential in this game, the fact that they are launching as subscription makes me feel this way, too. If they were trying to launch as a more equitable model like GW2 B2P or Rift/Tera F2P, I would gladly buy a starter pack full of hats or something but... Hmm.
Either way. I am sure that in a year or two it will still be around and doing alright with a model that fits it's content model better than subscription.