In the interest of player engagement I will add my thoughts, but I haven't been back long and haven't fully fleshed out the game. At the end of the day the game is in the hands of the developer and the community at large, so these are just my thoughts as an old schooler.
What strikes me the most about this new Realm is how common AIEWiz and ASGW are. I left the game a long time ago, but the % of players who were AIEWiz and ASGW back then wasn't near as high. Although both were definitely a thing. I think that's something that demands attention if the goal is to make end game content accessible by all manner of characters. Again, if that's the goal. It was always weird to me that an ASGW is capable of casting spells, and that an AIEWiz is capable of wielding a 2 hander. I think if you choose to min/max there should be a penalty associated with that in either case, and at this point in my play time it isn't super obvious how consequential it is. For example, it seems more consequential for your ultimate success as levels progress towards end game to play a human warrior.
The reason this is bothersome for me is because at max levels in this game toons have almost always been capable of doing the same things. To varying degrees of power, sure, but they've always been capable of casting the same spells, swinging the same weapons, etc. So, if access to abilities is going to be the same across classes, then the only way to diversify your character is through your stat build, but it seems that's penalized at this point.
I recognize the developer's efforts towards making more builds viable through the prestige system and the revamping of certain mechanics, and they are appreciated, but I think more effort in this area- not just along class lines- would be a good thing. An ASGW can still hit the hardest, but perhaps the penalty of low dex and low intelligence, even after enchants and items could be a little more obvious. As an example maybe an ASGW with 2 intel can't cast greater heal. An AIEWiz will still be the most powerful caster, but the penalty of minimal endurance and strength could rob them of their ability to use 2 handed weapons. As an example, I like the idea of putting a base strength requirement on certain weapons, rather than making encumbrance the limiting factor. Don't take away their ability to use these items based on class, but based on stats. When combined with a revamping of some of the end game mobs, this opens the opportunity for more interesting builds that can still be effective, and even in some cases more effective (but not always).
I also feel like things have kind of progressed to the point they have, perhaps because of the underlying limits of the game code, where things like alignment damage modifiers have been the easy solution to creating tougher mobs rather than something like more intelligent foes. Some of this I believe can be attributed to the spell system, which is pretty limited when you're looking at the truly effective spells. This should also be looked at.
Round based combat, if it's going to be engaging, needs to be focused on making the player think and analyze. You're taking time compression and reaction time out of the equation, so in its place there should be deeper layers of thought and more diversity of abilities that makes high level combat a thinking man's game. At this point, I don't really see that in the game. I do see progress towards that, but I would like to add my thoughts to reinforce the importance of it.