I honestly don't see many subscribers though.
TOR is having trouble keeping subscribers now. That's going to be much worse when there is a free option, particularly when the free option mean the quality of the subscription goes down (and I don't mean bang for the buck).
Warzones are going to be a headache now. 1 quickslot bar, no purple gear, and a limit of 5 per week means that most of the people you play with are going to be under-geared and not using any of their CC. They're also going to be inexperienced (5 per week is really not enough to build skill at a meaningful rate).
FPs are going to similarly suffer. Under-geared players only using a fraction of their skills. CC isn't going to be a priority for the average joe, particularly not when the F2P option is going to try to bring in people on the SW IP, not target MMO gamers. And it's going to seriously restrict role fluidity. Before endgame, there's really no good reason for your healers not to do damage, for instance. That's going to change when they can't even have damaging skills on their bar.
Not to mention queue issues. 5 WZ means getting into a game outside of primetime is going to be hella annoying.
There's no longer a market for your crew skills, since most people can't use the goods, so having full access doesn't really mean much.
Honestly, the only thing that doesn't get worse is the single player content.... which is exactly what you can access completely without subbing.
I'll honestly be amazed if their sub numbers don't plummet. Hell, I'll be amazed if they don't end up forced to do a big "upgrade" of all players to up the WZ/FP limitations by quite a bit, remove the purple restriction, at the very least. I just don't see how the quality of the game could do anything but plummet while those are in place.
It's going to be a single player game now. A good one, sure. But there's no reason to sub when that is the free content.