The OP is presenting a fake strawman argument... saying its either SWTOR method of launch OR it is a crappy unplanned, underresourced launch.
Additionally, trying to justify a bad launch by referring to an even worse launch does not make the bad launch 'good'.
A much better launch is one which is properly resourced, and provides certainty and guarantee to its customers. SWTOR is instanced, so JUST ADD SOME MORE DAMN SERVERS TO THE FARM, hire them for the initial launch, and return them a few months after once things settle down.
This way... You have a smooth launch, minimum queues, everyone is in, AND noone has to be frustrated at their experience of a launch, thus removing any demotivation to go back to MMO hopping. This means that the only ones who cancel their subscription after trying it are the ones who genuinely dont like the game.
This means that for an extra investment at launch, you retain more subscriptions + profit in the long term.
All of this is what happens when you let the marketing department override the common sense provided by Project Managers.