It's simple, really. The idea of a progression server is flawed at its core.
People who want to play classic, will play on classic servers. People who want more old-modern, will play on those servers. And people who want the latest, most modern version of EQ play on Live.
A progression server will eventually only cater to one of these segments of the pop, so nobody is truly interested in throwing the massive amount of labor and hours into creating such an emu server. There are other servers that specialize in each type and which will out-compete it.
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