EQ2 had really fun and challenging raids, interesting classes, faction "betrayal" quests and a few other fun bits. I played for a couple years between the Kunark and Velious launches (there were expansions in between those two).
Leveling was trivial though, so it just didn't have the "challenge" of making it to the end. That said, leveling was a helluva a lot more fun than anything WoW put out (at the time, and, well, now kind of).
Collection rewards were fun, epic weapons were fairly challenging to get and mostly had cool particle effects.
But, EQ2 hemorrhaged players once Velious dropped. They had managed to change enough about the game to make it so it just wasn't worth it to continue as a raider.
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