The key to enjoying the game right now is to join a good guild. That way you have a bunch of people who can help you with heroics, flashpoints, etc. I don't mind the planets being barren, because I don't have to compete for NPCs or gathering nodes, and I don't have to listen to annoying chatter in General.
The only downside I can see to low server population is that the economy is very sluggish. There's little to buy, and not much sells. For that reason, I'd like to see them consider a server merger. On the other hand, the game's only been operational for a little over a month, and I think they're smart to avoid making rash changes.