More people would be interested in PvP if they would actually be able to participate in it, but they can't for various reasons, the main one being it's kind of hard to compete with zerg factions roaming the world in groups of 10-20 or more.
While there are many players that get to participate in the shitty aspect of pvp and that's getting owned by a major faction, I can't say I've ever heard a single one of those people tell me that they didn't have fun in a fight where they were more successful.
PvP in this game can be fun but unfortunately very few players actually get to experience that enjoyment.