So what was the outcome? And how can losses be quantified in dollars, when you only have to pay a subscription to play?
Crowd Control Productions sells Pilot's License Extensions (PLEX) for $20 per each, which are essentially vouchers granting a month of EVE Online subscription time. While PLEX can be redeemed directly from a player's account management screen on their Internet browser, they can also be "claimed" by the player's character in-game, at which time the PLEX becomes an actual in-game object. This PLEX can then be used by a player's character in-game to add a month of subscription time to the parent account. They may also be put up for sale on the public market, traded privately, stored in cargo holds and transported, kept in storage somewhere, etc.
Game Time Cards (GTCs) have been around far longer than PLEX, and can also be traded between players following a set of official guidelines CCP set to curtail fraud.
In other words, players can purchase subscription time vouchers and then sell them to other players for real money. It's been this way for years. Currently, a $20 PLEX sells for approx. 630,000,000 ISK. Since a market price can be put on almost every ship and module in EVE, and indeed many databases do so automatically and accurately, the value of a ship and its modules in USD can be accurately approximated. A 100b-ISK Titan therefore ostensibly costs 159 PLEX, or $3,180. However, as you'll note from
roll-a-die's post above, most veterans use Russian black market RMT ISK prices or something when valuing ships in USD. I've forgotten now, been away for years.
Inflation has been steadily increasing in recent years (also, the Incursions expansion allowed carebears to afford PLEX, increasing demand); at one time, well under 500,000,000 ISK per PLEX was the norm and most veterans thought it was too high. No doubt inflation will continue unchecked in EVE until one of Iceland's supervolcanoes erupts, thus eradicating CCP and EVE Online with it.