This ~fact~ alone pretty much labels Odin as a failed server but we all know that a server wipe won't ever happen.
I don't believe Odin is failed; nor is the economy ruined. The economy has been sped up drastically by the impact of the bots, but as time goes on more and more Zeny will be introduced into the system, raising the prices steadily over time.
Since the bot populace has been lowered substantially, the prices will fluctuate briefly as the economy finds stability between the quantity of items available and the prices people are willing to pay. The prices of these items IMO have been pretty reasonable.
Considering that high level players can farm roughly about 1m per hour, I feel like the economy will straighten itself out by mid-October. However, as the game goes on, Ragnarok will suffer kind of like Chaos and Thor and new players will have a much harder time getting the Zeny required to get build staples.