To be honest the best thing they could do, although a few people would de-subscribe now, is to openly admit PvP is jerked more than carribian chicken.
Just say:
"PvP is really messed up. The people who were in charge had the wrong idea about how to manage the system and the rewards in this action combat enviroment.
We've decided to remove all requirements, other than currency, for all PvP gear until we can come up with a proper solution. That being said we really don't know when that solution will be. Our teams are working on and trying many different systems to replace what we have now. Rather than jerk you along with false promises, we have decided to openly admit we have no timetable as to when we will "fix" PvP.
We are devoting our time and resources to overhauling the system instead of patching with "fixes" that do little but disappoint players.
So PvP is our primary concern, but players wont see much of what we are doing except on the PTR as we find out how to manage PvP in such a unique and exciting action combat environment.
Thank you for all your support and we'll keep you updated.
But, no more false promises."
Tada, a few people de-sub but people get excited.
Instead of the desperation attrition most of the lost subs and I bet a whole lot of other people will re-sub any time they announce a PTR PvP test for a new system
Essentially roll the PvP system back into beta, but run it like an early alpha.
People re-sub and get access to the PTR to give live feedback on how the systems are fleshing out.
Game gets income, people see changes, content gets fixed. No more angry people quitting over false promises.
If only I didn't think for myself I could be a CEO too...