The EA earnings call states that subscribers are now listed at 1.3 million -- a far cry from the 1.7 million in March. It also sheds a bit of light on the recent "free month for 50s" promotion, which could have easily been a ruse to bolster numbers for investors in the annual financial report. This also comes after Lead Designer Daniel Erickson stated last week, "Although the internet loves to pronounce the doom of all things, what we’re seeing is a huge increase in activity with [update] 1.2 as people return to see all of the new content."
Well, speaking from experience, even around launch, I saw less people in TOR's persistent world than I have in any other MMO I've ever played. I just recently started playing TERA Online, and I've already found and grouped with more people in the starting zone than I did the entirety of TOR. You can all start your "Free to play! Free to play!" chant now.