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If part of the game content was 4 characters for 50 bucks, how do you think $5 justifies another 3? If you really want more characters and storage, throw down for the extra account.
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The $50 is for several dozen mission, several dozen explorable areas, several hundred skills, several hundred quests, 6 classes, and all the programming that ties that content together. It doesn't cost ArenaNet $50/person to double the amount of characters that an account can have. I doubt it even costs them $1/person.
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Very easy to horde and otherwise screw up the economy, too. $5 is a tiny price to pay in order to powerplay. If people really have the time to play that much, they should have to pay more than the average joe to even the playing field a little. After all... My average cost of lunch per day is 5 bucks. If I could pay a one-time fee and get lunch everyday forever, I think the food industry would go bankrupt. Anet's gotta get their money somehow. This game is free to keep on playing, so you won't go broke buying a second account.
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That's a bad analogy. If you already get a medium sized lunch forever for $50, it's like paying $5 to get your fries supersized forever. Food costs a lot of money to make, whereas additional characters cost very little.
Powerplayers wouldn't even get an advantage over other players if this was put in. Their characters would be not one bit stronger. The game becomes not one bit less fun for casual gamers, but it removes a major annoyance for people who play a lot, or like to use many different characters.
It won't screw up the economy significantly, since 3 more characters would only add 300 plat per account. Compared to the 1000 plat that your storage vault holds, that's very little. Because of NPC Traders, Crafters, and Collectors, no items can get too expensive, except for weapons, shields, and foci. Everything else can be bought easily. Because of the 100 plat limit per character, nothing can ever be worth more than 100 plat. In addition, the PvP character dynamic means that once someone unlocks a rune in PvE, their account gets that rune for free, permanently. Demand will go down, supply will go up, so even if the amount of money in the marketplace is high, inflation won't be too bad.
I don't see any reason that the limit is only 4 characters.