Economy is like real life O_o have you studied economics?
First you say the players dont control then the high lvls control everything? Surely its only the limiations and your choice to listen or not. I mean most would say go to the dunes. Why? More people are there and it helps with forming \parties, most high lvls help you. You really hate being low level? O_o Then lvl up..seirously as you lvl up you gain more knowledge, hence when someone says something completely wrong they can help correct that. Doesnt mean they know all but more than you. The economy is PURELY player driven. Wth are you talking about? Even the lower levels have a say in that.
Trust me FFXI doesnt lack alot of things. What you are saying is just that players make the world how it goes. Usually player driven things die out pretty fast like Eve i heard..or was it some other MMO. I rather let some other hardcore MMORPG person talk about this because quite frankly i dont know wth you are talking about. What does FFXI lack?(not the community, what you say about the community does not describe it as a whole at all, not to mention FFXI cannot control that but players do).
Heres an old pick of my MH from around 2004..tell me how its different than uploading your own house..if i could i would buy so much furniture.







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