This "5K subs and they're fine" figure feels more like wishful thinking than math. Where's that number coming from, exactly? Because I can't think of a single live service MMO that's sustaining itself, let alone growing, on 5K active subs.
Even if you assume a generous $15/month sub, that's $75K/month before taxes, merchant fees, or operating costs. Once you start factoring in servers, bandwidth, support staff, legal, infrastructure, art, marketing, QA, and (god forbid) paying the devs something resembling a livable wage, that number evaporates fast. And even if you handwave all that, the problem isn't just financial, it's social. A "niche" MMO with 5K players doesn't have enough density to sustain a healthy world, especially with the omega sized zones MnM are building. You'll end up with ghost towns, fragmented playerbases, and raid ecosystems that collapse as soon as a handful of veterans leave. BDO has a giant world that feels empty as fucking shit and it has 3-4x the players of MnMs 5k number.
Let's put it in perspective: BDO has had 12-20K concurrent players for nearly a decade, with whales funding an entire marketplace of cosmetic addiction, and even they are barely keeping the lights on. But sure, MnM - an indie studio with no monetization plan, no marketing, and a design philosophy straight out of 1999 is going to somehow hit this mythical 5k number. Which nobody can explain to me how/why that's the "magic" number needed to sustain a live service MMO.