I miss TSO all the time- there just really isn't another game out there like it. I can see why it wasn't everyone's cup of tea, but for me it was amazing. Was it a "glorified chat room"? You bet it was! If you didn't come to be social then there was just no reason to play the game at all.
If you wanted the fastest skill leveling, you needed to visit someone's skill house with enough people skilling that same exact skill to get the the fastest speed. If you wanted to make the most money you could, you needed to visit someone's money house that hosted the type of money objects that you had a high skill in. Those processes alone left you Sim completely stationary which means you either afk or try to strike up conversation with the other people in the house to keep yourself entertained. The only "fun" money objects were the ones that required a group effort, and as others have mentioned the pizza machine was the most popular. I used to "lead" in pizza, and I remember I was quite good at it :)
If they ever did make another Sims Online game, I would hope that they keep to the old formula of keeping an offline version along with the online one. I know there are a lot of people out there that would not be interested at all in another Sims MMO try, but I would fall off my chair if I heard they were. I must admit I lost my breath when I first heard about all the rumors of TS4 being online, and had dreams of a new, improved TSO being launched. When news was made that it would be offline, I felt like the only one who's heart fell into their stomach whilst everyone else rejoiced. I can respect everyone else's opinions though, and I wouldn't want to force that play style on anyone who can't stand it.
We're all simmers, we just like to play differently :)
Best to all