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Since Jagex is apparently a member of the "Fair Play Alliance", which allegedly doesn't tolerate cheating in video games, it's even more imperative now to get rid of Treasure Hunter, which is exactly that: cheating with your real life wallet! > )

You make it sound like Jagex barely contributed to the issue of P2W by offering their own Treasure Hunter service, but it's quite the opposite:

RWTers, whether those that offered bots or already-trained accounts to willing buyers, had to use the same legitimate training methods as the legitimate players, meaning that both RWTers and legitimate players had to put in the same amount of in-game playtime to reach the same goal (assuming the exact same method was used).

With Treasure Hunter, it is the absolute fastest method of in-game hours to reach a skill level goal, and it's impossible to fight against the real whales that unload excessive amounts of money at TH, since they won't even risk getting banned. Against bots, you could still beat them in the long term as they'd get banned eventually and you both had to use the same legitimate methods, and even against people buying legitimately trained accounts, they can get banned for RWT and the real account owner can recover the account back from whom they "sold" it to.

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Regarding everything else, to keep it short, if you let MTX fester, sooner or later it'll get even worse and you wished you hadn't let it spread further. Ironmen might be a target next to sell P2W MTX to (Jagex could find a way), or more and more content might get extra monetized beyond just membership.

Looks like another glimpse of hope just appeared for RS3 without Treasure Hunter; EA, one of the most famous gaming companies in the world, was forced to remove loot boxes in FIFA for Belgium players. If a company like EA can be forced to take down its loot boxes, a company like Jagex won't stand a chance when similarly confronted.

For obvious reasons, it'd be much better for everyone if Jagex woke up and voluntarily removed Treasure Hunter, since the company houses some devs who truly love their work and would want to make a great game over endless greed, but if not, it's quite clear that sooner or later, Treasure Hunter will be removed, even if due to regulations.

I can't wait to see a more brighter chapter in Runescape's history again!! > )