Imagine someone created a character "Barbotine" in 2008 one day before you, leveled to 80 but then pauses game for 4 years and now playes F2P. Maybee he will leave next month AoC for ever. Result: You will never get your name Barbotine, even if you paid "until the cow comes home".
You will never find a solution that fits for all, but the subscription is a measure for Funcom to rely on.
I would even suggest to have a look on the expire date of the subsricption if both subscriptions have the same time base (instead of the last login). In this case you might think of renewing your subscription if it will end in the next few weeks/months, which means cash for Funcom.