Cryptic CEO Jack Emmert is firmly on the "yes" side of that argument and will be stating his case at GDC Next in November.
Emmert will be delivering a talk during a session titled How to Avoid Pay-to-Win with F2P. The session description is as follows: "With an F2P business, developers must carefully weigh business needs against game balance. Typically, players immediately question whether a game is actually pay-to-win and not truly free-to-play. This session tracks how Cryptic Studios has tackled this very difficult question in each of their current MMOs, and provides a method to address both concerns."
Cryptic is helming a number of free-to-play games, with its current F2P roster consisting of Champions Online, Neverwinter, and Star Trek Online.