I'm not going to say it's a right decision or the wrong decision, but I am going to say it's the reason I expected...
Me and a few guildies have been discussing this for the past week, and most of us are of the same mind. It's impossible to define a "classic shard" that would fit everyones desires. And secondly, we felt most people wanted it for the nostalgia. One of those people was a Beta tester back in 97, and went so far as to say if UO was still like it was back in the Pre-Trammel days, they'd leave for all of the good things about that era, there are half a dozen reason that it wasn't necessarily better than what we have today.
Secondly I think the only way we'd ever have an answer to this debate, is if this debate had never happened. Meaning if as UO progressed, and hit major branching of the game play experience, as in UO:R then UO:AoS (which are the only two radical game play shifts imho), where everything about how you played the game was altered beyond just skills or equipment, a server or three were established that didn't progress to the new rule sets. If that had happened we'd have had the answer to this debate easily by looking and seeing which shards held the most population, but that didn't happen and we can't go back in time and alter this.
I strongly feel myself that if a "Classic Shard" had become a reality 75% of those clamoring for it would spend 1-2 weeks there then go "WTF is this? This isn't what I remember!". As humans our memory is as fallible as any other function. We also have this grand internal programming that constantly causes us to delude ourselves into forgetting the worser aspects of things we hold dear, it's part of what helped us survive when we were gathering nuts and chasing down Mega-fauna, while making fires out of Mastodon poop. It's called selective memory, and any married individual, or parent here can attest it comes into play quite often when undesirable chores and handed out, when much more enjoyable pursuits are available.
For those that feel this is a betrayal, well you're certainly entitled to your opinions, for those that were opposed to the idea of a Classic Shard well you got what you wanted for now. Me I felt about it either way, while I supported the Idea I wasn't going to complain if it didn't happen. For me I have to say "New" UO is more enjoyable than Pre-UO:R, and it's certainly better than No UO at all.
Now for Some food for Thought...
For those of you who miss the "PvP" aspect why aren't all of you playing exclusively in Fel? Saying "There's no point, no one is there anymore" is an excuse, if everyone that says that played exclusively in Fel there would be people there. Not as many perhaps as the old days but those that were there would be capable, and a worthy opponent is certainly better than killing off a new for a pile of ore right? Just because you feel that your "Game Play Style" was damaged with the introduction of Trammel it's just as justifiable to say that "My Game Play Style" was damaged every time I fell under the weight of your axe/kryss/flamestrike back in the old days.
For those of you that just don't like Insurance, Why aren't you on Siege?
Saying "There's no one there!" is simply an excuse if everyone that said that instead went to Siege, guess what it would be a moderately populated server. And outside that one "Siege Blessed" item artifacts are rarely an issue, most folks run GM/Legendary armor or possibly Imbued gear.
If you want a Classic Shard because you think Cheating wouldn't be an issue, guess again. The only reason it wasn't back in 1999 is the most popular cheat engine available didn't exist until after Trammel was introduced.
If you wanted a Classic Shard because the Economy was in check.... Well it was and it wasn't, and even now it is and it isn't. Supply and demand are the factors, it's what's kept Siege economy low. There was an suitable supply of Equipment back then to keep prices low through competition, and there were no "Rare" drops. Even the coveted Silver Vanqs dropped often enough I had half a dozen. Now with Artifacts of varying drop rarity being major players supply and demand has inflated the economy, compounded with a great influx of gold into the system. Basically the economy in the game is working just like any real one would. It's why a tin "Superman Secret Compartment Ring" from the 1940's that kids received by mailing off coupons from bubblegum packs is worth at auction between $17,000 and $70,000 depending on condition. There are only 8 know to exist still and people will have to pay more due to rarity it falls squarely into the Supply and Demand system of economics, just like that Slither/Tangle/Crimmy. The rarer an item is the more it demands. In other words don't knock it too hard, it's not something they can easily fix without changing the laws of commerce.