People forget why they initially implemented the CSM system. Initially, CCP was so isolated (geographically and otherwise) from their playerbase that they didn't even care when one of their developers helped his Alliance get access to the richest region of the game (Delve) and gave them exclusive rights to blueprints that gave them monopoly rights to some of the most powerful ships in the game. After they got called out on it, and it looked like their subscriber numbers might drop, they brought in the CSM system to help hold them accountable.
It's worked. They're a lot more in tune with what players want than ever, and while the stuff from the new patch seems to be utter failure, the core game is solid. People are actually debating ideas with the knowledge that someone is going to pass them along.
The system isn't perfect - the community representative for faction warfare is intentionally filtering out player suggestions so she can help her own Alliance - but it's created a stronger game. The skill queue system means that my friends and I can log in when it suits us, log off to do other things, and not have to babysit the game every time a game finishes. That's directly due to the CSM system.