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Hardcore PvP is certainly a niche. Yet Eve features similar game mechanics and is sci-fi, which is arguably less popular amongst the RPG crowd. I wouldn't be surprised if Darkfall Gold did better than Eve. So I'm not sure why you'd be surprised if they reached 100k subscribers.
Additionally, the number of subscribers necessary for them to return a profit is less than for other companies since they didn't have a massive development team. Having 100k subscribers, or even less, is also plenty to provide several servers with a very dense population. This is especially true in a game like Darkfall where time spent on the grind treadmill matters less than skill, and so there will be less segregation of players through the world.
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