Entering the MMO market nowadays is always a risky venture. They're expensive to make, expensive to keep running, and you have to attract loads of people for it to work.
And to come out with a free-to-play MMO that intends to be as fully featured as a game like World of Warcraft? That's just crazy talk! However, Perfect World Entertainment is talking crazy, as they are working to release MMO Ether Saga Online to Western audiences, a stylized and cartoon-y prequel to the Journey into the West, a Chinese folktale.