Usually I don't weigh in on topics like this on MMO forums because it's usually just two camps of people flinging weightless arguments at each other.
What I will say is that Bioware and EA have released official subscriber numbers as well as a ton of metrics on game time played. I have only ever seen one other release official subscriber numbers and that is WoW. AoC released initial sales and so did WAR, but they lost so many subs so quickly that they never releases subscriber numbers. Unless the game is doing well, developers are careful to keep subscriber numbers ambiguous. Also, EA officially said there is 1.7 million active subs, and while some of those may be inactive players and whatnot, they can't lie about that number, so they're at least raking in the money,
Furthermore, they opened up servers in Asia, a move that usually isn't done so quickly after release, implying that there is at least some demand for this game.
I'm not saying they haven't lost players since release; they obviously have, there are no longer server queues. However, they must at least still have a decent playerbase over 2 months in to be doing what they're doing, and in my experience if an MMO can survive the first month without hemorrhaging subscriptions it's doing well.
As for the poster who said 'Players who quit tell their friends how bad the game are spreading bad word of mouth', have you considered that the gaming outlets and players who love this game might be singing it's praises? Not everyone hates this game y'know?