I agree with you totaly , We're playing this server only because it seems greatI had played on their previous server which is still up(marina) and the same thing happened. The admin didn't care about the server and people kept on abusing bugs, turning their in-game items into real world currency and as this was going on, admins kept milking the users. When they realized they weren't making any more money, they advertised their up-coming server which is bar street. Now they're doing the same. They promised to fix the bugs and get things back on track but now admin puts his real life occupations as an excuse for not being able to fix everything that is ruining the game(He is a 23 yrs old student btw). He is well aware of the abyss gem->GB bug but all he did was remove monsters from Delos while mine still drops abyss gems.
That link I sent is the middle-man company that has co-operation with the servers of which items they advertise and sell. Use google translate and browse "Knight PVP" category, you will see 4-5 private servers there and website adds a server marketplace page only if they an agreement with the server owners. And they're selling elite items that no one has ever seen in the game before such as Hell Breaker +8. There is no way of obtaining FT items on Bar Street. Chests do not drop them and there is no other way to get them. I'm sure you've never seen and Dark Vanes, DoL or even a god-damn ron's staff
But despite all these things, if you're having fun on Bar Street, good for you. It's an amazing server, it just has a really incompetent administration.