I own both 1 and 2, own 1 for PC and for console actually. Enjoy them both as well, but I realize they are different types of games. If I wanted to do some hacking and slashing, but a bit more with RTS style, then I would play 1. If I wanted to just murder without much worry for team mechanics and pausing gameplay, and play more of the role of my own character, I would play 2.
When I sheath my huge 2 handed sword on Skyrim, it magically attaches to my back (magnets?).
It sounds as though you cast your opinion without ever playing an MMO before. I've played almost all of them out there, and payed attention to many trends. And with the fall of WoW subs, and the massive IP that TOR has, backed by Bioware, who is backed by EA (Who might be the only publisher with the money to support a MMO to push for another huge sub pool). I think your prediction will be far off, especially considering they said they only need about 500k subs to be fine, and there is supposedly 3 million pre-orders out there right now (by the way, that is the largest number ever for pre-orders by an MMO except WoW). Even right now in Early Access the server count is greater than any other MMO ever made (except WoW). And there is another sub based MMO out there that is doing fine and hasn't gone f2p yet, RIFT. If RIFT can make it, a Star Wars IP being made by Bioware definitely can. And the graphics are on par (I'd say better) than just about anything except Age of Conan. MMO's aren't about graphics, it's about content.
Also I never had any lag issues, and the UI worked great for me. I'd like to see a few more map options, but as soon as they open up modding to the community (what do you think made the WoW I great, they have taken so many ideas from mods) it will get better. The reason all new MMO's fail is because everyone who has only played WoW as an MMO steps into a new game and says "this doesn't have the content and the polish than an 8 year old game that takes in over 100 million dollars a month has"... no surprise companies fold, most of those people were there for WoW's launch, I remember my server being down for 2 - 3 days at a time, and lagging like crazy, or not seeing clothes on anyone.