Predictions like this are silly. I am pretty confident all MMO companies that are P2P, including Blizzard, has a Free to Play backup plan for when sales and subs dip too much.
I love how so many people on this forum accuse others of not being "experts" or "professionals" on the subject and when an actual EXPERT opinion (this guy gets PAID to research and make these predictions) comes along, they balk at it...

This prediction is from some anolyst who has no official capacity at Zenimax.
Again, what? Of course he doesn't work at Bethesda, he's an anolyst; they HAVE to be third-party otherwise their anolysis will be skewed! And this isn't a "news" article, no one is saying: "this is fact." By the term anolyst, this denotes that he makes educated guesses based on market research data, insider information and relevant experience. Sometimes they're wrong, sometimes they're right, but you can't say they aren't credible. Are you only going to listen to Zenimax on this? You do realize everything they tell us is going to be spun and disseminated through their marketing/PR department, right?
There is the truth, the ugly truth of F2P.
"Free" isn't as free as you would think.
Point of Free 2 Play is to LURE players into believing this until they realize, snap! I need to buy stuff to compete with the best players.
But it does leave it up to the players. I have played many free-to-play games quite happily without dropping a dime. Ya know, cuz I'm not a svcker. Then again, I've seen stuff that I've really liked the look of (I think I bought a vanity item in EQ2 once), and had the cash to spare, so I went for it.
I have a co-worker who spent $6,000 dollars on Maple Story, that's insane and sad (which he freely admits), but it's nobody's fault but his own (which he also freely admits). Did you know in Maple Story that you can buy a HAND for your HAND, "Poop-on-a-Stick" AND...AN INVISIBLE WEAPON. If you see those and want them bad enough to spend 8$ (the invisible weapon is 8 dollars) then that's on your head, no-one else's.