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The cheats, the Gold sites. The lag, the dead content, the bugs, the economy, the lack of players, the total lack of any care or skill from the development team, the lack of vision, the trolls, the arrogance of vets, The idiots that run the forums, The big announcement, please add your own reasons.
Seems you are at fault here, not the game. Your expectations of the game, and the fact that you committed a banable act, while playing of a free EJ account. Maybe you should read the TOS some times. All of what you mention as problems with UO are rampant more or less on all the MMO's out there. And you could not find a more wrong time to complain. These days we have new content all the time. Actually, so much so that we have one event after another, more pertinent to non-EJ players.
Most of the people in the game enjoy it. There are many reasons. This game is hard, and grindy, and not for the impatient and of weak fiber. This game is its own little world, has its good and bad parts. Its been around for 23 years. Either you like it or you don't. Subscribe, don't play freebie EJ only, and develop relationships in game, and don't offend people in game, and don't beg, or expect anyone including vets to bow to your every need. Don't violate TOS or rules of proper conduct. Develop the ability to gain respect and honor from others, start being trustworthy in-game.
You sound like a professional from your language, you surely understand the above.
Anyways I hope you change your mind and subscribe. I agree that this game has a lot of drama in all ways possible, but that is what makes this a great game. I think something happened to make you angry on an EJ account. EJ accounts are very limited, and they have their own special TOS limitations.
EJ is not the game: They are supposed to give you a flavor of the game, so you can see a little of what the game has to offer and subscribe.