You should read a bit more about it before decrying the whole endeavor.
The simple fact is that they wanted to make a single-player game, but since MS owns MechWarrior rights from their (crappy) MechAssault game and they wouldn't let them do a PS3 version, they couldn't get it funded. No publisher would pick up a game from a small developer without Playstation support. The F2P Online format is the only thing that would let them make the game.
That said, this is being created by people who really, really love MechWarrior, including one of the original BTech developers from FASA. It is going to be the 1st-person sim-style combat that MW fans love, and it is going to follow the timeline and story from the MechWarrior universe. I wanted an SP game, too, but honestly, being able to create a merc company with my friends and join battle against the other houses and the clan invasion sounds even better the more I think about it.
It isn't going to be P2W, either. Of course you'll be able to buy things, but nothing non-cosmetic that you can't earn by playing. Besides, part of the entire point of the design philosophy of this game is that every class of mech has its role in combat -- it isn't going to be a race to the Assault class.
Anyway, give it a chance, don't just write it off. I'm a long time MW fan, and the more I read about it, the more excited I get for this game.