Actually, for many games, without lockboxes they'd need to considerably cut staff down - which would absolutely have a negative affect on the quality, scope, and rate of content updates the game received, and in some cases would likely become financially unsustainable to support in any way beyond maintenance mode.
B2P games have used cash shops to generate steady revenue flows for years and years, it's not remotely new. GW1 integrated them eventually, but prior to that did little in the way of free content updates IIRC but primarily updated content via paid expansions early on.
If you actually look at the updates in ESO, it's painfully clear how much the devs care about the game. They're apparently deep in the ES lore (I know little about it, so I'm going off of comments from more hardcore ES fans) and are constantly putting in all kinds of content that shows a deep understanding, love, and appreciation for the history of the franchise as they find ways to work in references and nods to prior titles. It's not a cynically developed game cashing in on the IP, there's very much passion behind it. The monetization isn't remotely invasive, and the only time you're "forced" to see anything about it is that "what's new" window when you log in every once in a while. If you want invasive, SWTOR has the cash shop button literally everywhere to remind you of all the features you don't have as a non-sub.
Neverwinter makes regular updates, so does DCUO. Both also feature lockboxes. DCUO's subscription provides access to all the DLC, so does ESO's - minus Morrowind as that was an expansion rather than DLC - and three times the cash shop stipend every month ($15 vs. $5 for DCUO) which allows you to purchase the DLC so you can continue owning it should you let your sub expire.
I get it, you hate lockboxes. But your posts are being a bit silly about it. And I don't give a rats ass what Jim Sterling has to say on the matter, he's generally an annoying prat that just says whatever will get his channel more clicks and patreon more subs.