Tyk
If the developers are able to come up with catastrophic events, I'd actually prefer the scenario where all are devestated and run back to the Ruins of Silan, or a simlar place, old characters die and pass on their knowledge to a "younger generation" who have to start afresh, with only the passed on knowledge.
That would be even worse. In fact, that's an absolutely horrible idea. At least if everything is deleted with no RP comment we can imagine that our characters still exist somewhere, that maybe they have even rejoined the characters of absent friends.