I think it is if you're willing to put alot of time into it. I still play it from time to time, but I'm still only lvl 48. But still, I was lvl 48 when chaos server just opend, so most other players were low lvl to. It felt good being able to compete for once.

There will be a point when leveling up will seem hopeless because you keep getting PKed by the other races or you cant ever find a party. If you can stick it out and keep playing past that its very rewarding.