No real endgame ≠ No good endgame.
Once you max out and optimize the industry infrastructure and stockpile some materials there is no real point in grinding or doing most of the stuff.
Let's say you are a hunter in your village. You can raise your survival to 5000(I know, unrealistic number), but there is no point to it, beside slotting gear. Everything you might want you'll cap with 600 survival. So, what's the point of raising it more? It effectively becomes a dead stat after certain point.
At that point, you either go for utility (Hell, let me get some more exploration so I can be a better forager while hunting), or pure PVP stats. And most people will opt in for PVP because that is more important.
Bottom line, the game loop is great. I am not talking shit about the game design.
Problematic part is that when you max out industry and top out the character with desired stats, there is nothing else to do except hoarding materials. And sure, it's fun to hoard but for how long?
Only other part of the game that will make you engaged will be PVP combat and grinding PVP materials. Why? Because even if you can dwarf all PVE content in game, you still need to push your stats to be of a similar value to other players who participate in PVP.
At that point, skill or just player numbers can make a difference.
Anyway, industry as such does not have infinite scaling. A lot of players love the industry grind, capping it makes no sense to me. It keeps things less competitive, it keeps things less interesting.