Well, of course it is not worth to play there...
It's way better to "run dry" on "free" server in this game like you, correctly, said. The server isn't low populated. The game is. Period!
The actual system is too grindy, f2p items, even for real free players, are Korean Style... A mount for 1500000g or more? Really... No words... for a mount

because without level 10 runes your good to PVE and no raids. So get your money to some single player game. You'll enjoy it better!
7.0 will bring back the good stuff. It might bring some downsides but, it's a change and this game needs one. At least one!, and this (probably) many will be most welcome. If few players doesn't like, well, bye bye, i rather prefer to lose 10 excellent players and win 1000 with the changes.
About the P2P, there are no words to explain my simply (un)compreention about population. People simply get stuck on 2 points: bag and mount. All the rest is the same, balanced, better, faster to get.
So, like they say: "An image worth for thousands words". And that's exactly it:
1.
http://postimg.org/image/9wanznd15/
It took me soooooooooooooo long to get 65 that i had to use 500€ on Scrolls for Marks of Fate and Experience to get this

Jeez... Players complaining P2P are so...
2.
http://postimg.org/image/kpwx9asm7/
OMG!!!!!!! How could i levelled to 65 with a trash bag

I'm so crazy, how could i even play this game with this bag?????? People excuses are just so ridiculous...
3.
http://postimg.org/image/55ttnhgh5/
OMG (again)... Is that, 1 cat (rank 5) and a dog (Rank 6) and the Great Quest with 290/320, and a bigger bag that i got just after 19 hours after getting to level 65?!?!?!?! (yea, haven't done TEP (epic bag) because guildies are waiting for today's reset)
This server is: UNPLAYABLE!!!!!!!
But, just to answer you if it's worth this server: no! You might prefer to have you savings on "free" server or farm your char to your grandson. It's a good present for him...
If everybody quit after look to server status, how can accumulate people in server. If we stay then there would be crowded.
EXACTLY!!!!!
P.S.: Don't make noise around.