SOEs introduction of 'The marketplace' destroyed the community and the game itself. You could see the shear greed with every decision they made. They brought in some guy to run the game who specialized in micro transactions and he just nickled and dimed everything. The actual game component was simply ignored and replaced with new furniture/cosmetic gear on marketplace. This must have done well initially but over the course of a year or so the playerbase declined to silly levels.
I raided hardcore in EQ2 for almost four years and the final year was just horrible beyond belief. The itemization was mindblowingly bad, this coupled with people leaving the game in droves eventually decimated the raiding scene on my server. It's a real shame as I LOVED the game in the first three or so years, it was my first MMO and I couldn't get enough of it. Raiding was amazing and I loved the lore.
As for the combat, yes there are a LOT of buttons to press but this did tend to separate people who knew what the fuck they were doing from people who just seemed to hit whatever was up. Between this and the fact you actually had to time your casting in between your auto-attack strokes added a lot of depth to the combat in my opinion. I used to play a Dirge for my last few years and timing temp buffs such as rhythmic overture that recorded your damage over ten seconds and then used that damage as a proc for the entire group for ten seconds when you hit victorious concerto took a lot of group coordination. So I never really had any issues with the combat itself, it wasn't wow which I think most people who complained about it didn't get.
What I think of EQ2 though, it leaves a bitter taste in my mouth. It was obvious to anyone at the end that the developers had been told to focus on micro transactions over everything. EVERY decision, VERY new feature seemed to totally revolve around getting people to buy new stuff on the marketplace. I have ZERO faith in EQNext, it will be littered with just BS rather than solid gaming features.