Heroic encounters and the challenges that require 10+ players might be fun, problem is that there aren't enough people playing anymore due to the greed that has taken over the game. When you expect people to keep emptying their pockets just to play, you run the people off.
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1.) It is true that many people, including myself, have pretty much stopped playing. So in general there are less people.
2.) Then there is the fact that now there are 6 "key" zones for people to be in. I.E. Mantol-Derith, the 4 leveling zones to get new Element weapons, and then the old ELOL/Shores/ETOS/ECC. So the entire player base now split between all of that will make it appear as if there is not that many people on as well.
If you're farming for the new rings you might also consider doing more farming in the Prophecy of Maddness map. Once you join the queue it rarely takes a full minute for the run to start and hitting the X button to skip the cutsceen speeds it up a bit too.