Even TOR has already returned a sizeable profit. The reason for the F2P announcement is because of how lucrative F2P MMOs have become. DCUO reported revenue increases of 600% after going F2P. LotrO reported 400% increases in profit. D&D online went from a commercial disaster to underground success after going F2P.
With the production costs of 200-300 million $? No it did not. They are lucky if they covered the production costs.
p2p model is still more profitable if game is actually good. Look at NCsoft. GW2 with it's b2p model and international release makes 27% of their profits (and that number is going to drop once everybody who wanted to buy it buys it). Meanwhile Blade & Soul with it's p2p model makes 20% of their profits. From Korea alone.
People screaming that p2p MMO's are dead have no idea what they are talking about. TOR failed because it's a bad MMO. Not because the genre is dying.