Anet is also developing Guild Wars 2 now and released 3-4 expansions if I'm not mistaken. Then you factor in all the Steam sales they had for them to boost sales when they were flagging and I can see how they would remain operational on box sales.
It doesn't seem like a good strategy to do more than "stay afloat", so it will be very interesting to see the model Guild Wars 2 uses, as it's expected to be much more popular.
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