Sadly I don't think it is, no.
SWTOR is probably the most polished MMO I've played since WoW and I really enjoyed having a story to play through as I was leveling my character.
Ultimately I think SWTOR will fail to be "the next big thing" because of a two factors:
1) The endgame content is pretty much the same as any other modern theme park MMO out there (Raid/Dungeons/Daily Quests/PvP Battlegrounds ad nauseum)
2) While the story content is fairly engaging, the story is spread so thin that if you want to level up alts you'll be spending a crap ton of time doing the same quests you've already seen before. This has pretty much killed off my motivation to level my alt Sith Warrior that is now sitting at level 16.
On my blog I've made a longer post about my problems with SWTOR:
Why SWTOR is ultimately a disappointment
If you can't hold the attention of people with your endgame and you're not making it enjoyable enough to make alts then how will you keep people playing and paying?
I think WoW is doomed to experience a long and slow decline as well, but there are people with so much invested in that game that I think it will still be a successful and profitable game long after EA has pulled the plug on SWTOR.
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