More like "Most fantasy MMO fail to meet expectations, even big MMO's like TOR, so why not try something good for the players and DM's? Like a new NWN-type game? It wasn't done since NWN2. Why try the road paved with dead bodies? Why?"
Making a MMO doesn't make sense. Pathfinder is a RPG, a table-top. Where you have a DM and players, not only players and a set of ready scenarios (but you can play like that if you want). Why not make something like Neverwinter Nights? You know, toolset for people who want to make their own stories or game-worlds? A game that supports a DM Client, where players can become DM's in world created by the toolset? You could easily implement the whole settlement thing in the game and toolset. Hell, why not a official server with River Kingdoms game-world? This just doesn't make any sense. Worse, it will flop. So why?