An excellent article about Free-to-play games. Go read it now.
As for my personal opinion, I agree with Andrew in a way that every customer always wants a bargain. That's why, for example, I always buy every HumbleBundle that is out. If I even don't like any of the games (that is never happened, BTW) I wouldn't be angry at all, since I got it almost for free. OTOH, I will never buy a free-to-play game, since I'm guaranteed to make a not-a-bargain deal, and that's not the only thing. This kind of games are naturally corrupted, like an arcade, to make money out of you. It feels kind of weird, and I just ignore it, since there is a lot of other games available.
I feel sorry for a little kids (and their parents), which are particularly naive and vulnerable to this kind of abuse. They don't realize what this is and sometimes spend lots of money for some 'crystals' in a game with their favorite cartoon heroes. I guess that's inevitable evil of games becoming a less art and more money making industry.
I don't think that it poses any real threat to gamers, eventually all who exploit this approach to much will suffer the consequences. The only sad part here is that talent is wasted driven by greed.
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