I think SSG do not yet have a good grasp on what most players would need to justify a server being VIP only.
As it stands. We have Cormyrs main selling points being:
1) Prototype 64 bit
2) Unique cosmetics
3) Semi hardcore aspect in that you start with nothing (grey area due to unknown future SSG plans)
The main aspect of point 1 is that we get to see first hand what SSG can do with the upgrade, before they roll out whatever new server system comes next. It was rough at the start, but then lag pretty much disapeared with only a few outliers. The population was high for a time, the game felt ALIVE again, for a time. Being able to run lag free for a while restored some faith in the game for a lot of Vets I would say.
Point 2 is less of a factor because not everyone wants those cosmetics, and not everyone is VIP.
Semi hardcore aspect, starting with nothing, is kind of a nice break from things BUT. We dont know if SSG are going to have more events unique to Cormyr like this. If it replaces Hardcore in the long run (whether or not they will do another HC isnt the point) then the advantage would be, that with each event your character would be more powerful. So maybe later on when folk have the past lives and gear they want, more people might do the skull lanterns and what have you. But we just dont know if theyre going to do more events only on VIP locked Cormyr. If they were going to, then that might justify it a bit more in the long run. Who knows.
The problem with Cormyr remaining VIP locked, in my opinion, is that SSG have said there will be no transfers TO Cormyr. Now the biggest hurdle for most folk is that they have to "leave behind" their main server stuff, and this is literally why Cormyr as it stands, will not be a "main" server in the long run. If you cant transfer to it, then most will only play there if there is another unique event there.
So many points and so little concrete information from SSG. Cormyr was VIP locked until it wasnt but it will be again. They have the propensity to go back on what appear to be clear statements, and it is their right to do so, but. What they should do, is go back on their word once more and say, when the new 64 bitters come out, either a) Cormyr isnt VIP locked, and is just another 64 bitter, and kudos to those who already made a start there, OR b) it remains VIP locked but you can transfer to it.
What will be the point of staying on Cormyr when there are free 64 bitters that you can transfer to? The only real answer I can justify is, you have a static group or strong bond with the people/guild there that want to stay there. I think this is the ideal option for SSG, because they have won 100%. But I doubt it will sustain any numbers worth looking at unless they literally spam it with Cormyr only events.