This seems likely to me. It could work. However there are two dangers:
1) It might require high-level followers
This would make the mechanic available only to mid- or end-level gamers. Thus failing to attract new customers who would prefer this mechanic (e.g. the sort of customers who were the majority of PQ3’s player base before 3.0.)
The mechanic needs to be available right from the start to give PQ3 the widest possible appeal, which is part of the point – larger customer base = more microtransactions, and more “minnows” getting hooked and “leveling up” to be whales.
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2) It might be too expensive
For customers who enjoy the “upgrading” form of advancement (and there are many, to judge by the complaints both on forum and in game chat), this path needs to be reasonable (in terms of material) costs in order to offer a genuine “mode of playing” and not just an expensive one-off that you can only afford to do occasionally.
If it’s just an expensive “frill” around the edges of the new gacha-style-PQ3, it will - rightly - be seen by customers as just a money grab and a complete failure to address the actual complaints. It won’t re-engage alienated customers or attract many additional new ones.
It needs to be something both F2P and whales (and everyone in between) can reasonably pursue as a path to gear improvement, if they’re interested in that mode of play.
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For proposals, see here: