IIRC, the original not-set-in-stone idea was to have a subscription model, with an unlimited trial period with access to limited content.
There had been discussions about how exactly should content be limited, and I remember liking the idea that trial characters simply didn’t own ships:
Any character could do missions for factions, and they would lease basic ships to you at first, as characters started without a ship on their own. Hence, they would be easier to funnel in “tutorial” easy missions at first (a veteran restarting could probably try harder missions right off, probably), and avoid the potential “create account - give starter ship - close account” exploit without making the starters ship worthless.
Once a character earned enough, she could buy her own ship and can go independent instead.
The higher standing with one faction, the better advantages you had. One of the advantages was to have better ships leased. Others would be being in command during a multiplayer mission, or having access (or discount) on buying advanced ships and hardware.
Trial characters would simply be forbidden to buy hardware, and could only progress by ranking up in factions, potentially as high as subscription characters. Their money earned would be frozen until they would subscribe, and if a subscription character stopped, it would freeze her assets back. (No ‘giving money’ hack, as it wouldn’t be more efficient to create trial accounts anyway, time-wise.)
It would still give access to the core of the game, and wouldn’t put soft or hard vertical limits to them (nor would make them less powerful) but instead put clear horizontal ones.
The problem being, that faction-driven play would be a pretty big system to implement to be interesting.
A F2P model would be harder to get right, particularly in a sandbox, (partially) player-driven economy and world like was planned for the TQFE.
Now, by the time the MMO is advanced enough they have to think about its payment model, general MMO models may have evolved yet again. Think about it, five or ten years ago, who would have bet on F2P as the main model?
Who knows, Facebook may finance them just for it to work on their new Occulus Panoramic