I was one of those that defended GW or part of the game to become F2P, and its actually the worst thing that could happen to the game.
You make a game F2P when its in active development and u update the shop with stuff. GW is not in development and the shop doesnt get any microtransaction item, so ur basically gonna flood the game with more bots, and those buying accounts to bot or manipulate the game are gonna do it for free (so less income for Anet), also the ppl getting banned wouldnt buy more accounts. Its absolutly nonsense.
This game needs soooo many updates that you would need like 20 engineers to work for 1 year at least before starting puting content and promotion. Even in Gw2 its hard for them to update to dx11 and change systems, imagine in gw1 that is x10 more obsolote in all means.
They could do prophecies as f2p but instead of the 24hr period on new accounts they could make it permanent until purchase. Not sure that would do much for the game's population though.