The companion/crafting system is also in the f2p mmo Grand fantasia. You get sprites that you can send to gather and then craft.
I have a feeling hardcore players will quit playing but if people pace themselves or play alts, I could imagine them keeping an active sub. I think part of the issue is the game was released prematurely, in my opinion, and hasn't had time to iron out the little nuances and subtleties. If the game was to be released in a few months instead of a couple weeks ago, everyone would be furious but they might actually accept the game without too many complaints.
I'm usually pretty nit picky when it comes to things like UI and features that are kind of expected as standard. But to be honest, I don't really have any issues with the UI. Yeah, it's clunky and I can't customize it but it gets the job done for now. It's also the first mmo that Bioware has made but I think they've done a pretty admirable job so far.