ummm... what?

if you want fun beginning to end, play an FPS, MMOs with persistent worlds use grind and "unfun" things to create value in the items you purchase, use, and lose.

If I got a faction fitted Machariel every time I lost one, what would stop me from rampaging wildly about, and making a general ass of myself? On the other hand, when I KILL a faction fitted Machariel, it is far more satisfying to know I just destroyed a hundred hours worth of effort, rather than just reset some guy back to his spawn point.

The greater the risk, the greater the satisfaction.
In eve, you risk assets
In eve, you gain assets through grind
in eve, grind is time
risk = assets = grinding = time

Thus "The greater the (risk, assets, grinding, time), the greater the satisfaction."

Sorry for the minor rant, and I cant believe I just argued FOR grind, but in eve with a completely open economy, there has to be a base unit, and that IS time.