There are plenty of reasons for why we went for it, but it basically boils down to us theorycrafting and saying "let's do it". Had we failed in killing the titan it would have been bad, but not game-ending bad. We have lost our dread fleets before on rolls of the dice, the key thing being that if we never roll the dice our members will get bored, disheartened and stop logging in and X'ing up. If you always play it safe you'll fade away like the myriad of entities before you.
As for the initial Titan target, I am convinced he'd be dead dq or no dq. There was simply way to much incoming dps on him. If we had dealt with a lesser entity then PL we'd probably have taken few losses and killed a lot more then what we did. Their response time was out of this world and actually faster then our calculated worst case scenario.
As for our finances, yes we do have some old money and but we also have a majority of "newer" 2010 players. Of course FW missions do give us a good steady source of income, but come on none of you can with a straight face tell me you're not making more money with your sanctums/moons/etc. If you have an alliance wallet with 500b in it, what is stopping you fielding 300 dreads? It cannot be SP, we have people in dreads who started playing this game in late '10 early '11. Is it that you lack the will to do it? I think it is.
Why do you not have the will? It might be the same reason that we don't move to null-sec. Almost all of our members would literately rage-quit if we did. These are the same members who readily x up to lose their dreadnaughts in a blaze of glory without any hesitation. Null-sec in it's current iteration is mindblowingly boring - among our older members we have several '03-'06 members who have been through it all, and have come to low-sec for a taste of EVE as it once was - as an example we have in corp 2 of the 10 oldest active players in the game, who started playing in early May '03. Within the 4 militias, and related low-sec pirate groups there, are hundreds of active '03-'04 players, why are they here and not in the "so called end-game"? Because null-sec sucks. It a stale environment that breeds lethargy. I've earlier argued for a return of Space Napoleon (SirMolle or someone with similar ambition of New Eden domination) is the only thing that can save null-sec unless the devs get their heads out of their ass soon, and I stand by that.
As for the dread buff: Moros'es got both the general increase in DPS (do not forget to include t2 siege), and an extra boost because of their lost drones, but furthermore the general hybrid buff. Overheated (yeah OH is apt here, the fight doesn't go on forever) a T2 Moros, with faction ammo and implants does over 15k dps. Of course not everyone has max skills (several are still training t2 siege) so 12k is a better measure for them, other dreads are somewhat less effective.
So what happens if you have a 300 man dread fleet? First off no entity will throw supercaps at you. They're risking their key assets, many of which will die to a fleet pushing 4.000.000 dps. The absolute best they can hope for is winning an isk war, which you shouldn't worry about, as you have premium insurance and ready replacements. They'll be down dozens of supers and in the worst case have lost their power projection for good.
This leads to you having a "
Fleet in being" without actually having 50' supers - yeah it's a RL naval term, but one of the few that actually applies to EVE - and once you have that you can force your will on whatever region you want.
tl;dr - null-sec sucks and therefore you don't have the will to be bold. Fix null-sec before applying band-aid nerfs to various ship classes.
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