Login bonus sounds good, but I want someone to join a match not just login. I believe the current reward system is a fair incentive to join a match.
However, At 100+ level, the amount of reward is reduced to 3. I usually don't feel like playing after I complete Gold and Faction point maps because I have to wait for about 3 or 4minutes to join a new game, which sometimes cancelled. (I still love the game, though.)
About Mercury Point as Login Bonus, I do not say I don't need it, but I rather concern that MSE does not have many things to sell. Either costumes or gold. I definitely buy if MSE sell Gold and FP buff for whole team.
Majority of F2P games earn from costumes. I have seen more customization options to come in the road map. MSE prioritizes SpaceGuilds than customization, which is a possible source of profit, so I hope MSE is comfortable now. (And they hire a model/voice actor.)
In Fortnite, I have seen tons of items to buy and customize your avatar. Epic Game closed Paragon, so they have more modellers to make those items, and now Epic earn millions.
(By the way, I want my Paragon back... Can you bring me a MOBA mode? Plz MSE..)