Here are my top ones
1) D3. Yes I know this isn't technically an MMORPG, but I feel it needs to be mentioned. The game has so many glaring issues that I really wish it didn't come out, on top of this all the hype for this game and it basically fell flat on its face.
2) Divina online. I am not going to lie, this game seemed like the best anime mmorpg out there. Until it became the next Fiesta within 3 months of it's release. Heck it is worse than Fiesta in some regards, mainly the costumes. In the 16 or so content updates Divine has had so far, 13 have been about the cash shop.
3) Tera online. This game had such potential, it was sad to see that the developer know nothing of the genre and is letting it fall flat on it's face.