Before this gets any more demotivational, let me present an alternate view.
The base setting not being subject to dynamic change is demoralizing for some. The base setting being subject to dynamic change is unmanageable unless it is made the core of the Eve experience, which it is not and is never likely to be.
While I would very much like to see tax rates in trade hubs adjusted to reflect fortunes in FW, or perhaps an expansion of the war and perhaps some new twists in the storyline, I am not holding my breath. IC, the faction war represents a protracted low-level conflict whose purposes include avoiding the chaos that would result from a high-level one. This can go on happily for decades, and likely will (the first Caldari/Gallente war lasted for 80 years or so).
The real RP fun to be had under the circumstances isn't in the epic world-politics-changing game unless you want to sign up with one of the big alliances and play the (largely un-immersive, but frequently epic) game of empires. Very few RP organizations are involved in that.
For my money, the real fun to be had is on the scale of personal stories, personal and private successes, failures, hopes, dreams, relationships, and disasters. Conflicts are good for that because they stir the pot, not because they get all epic and world-changing.
As for the IC/OOC divide, I do believe that whatever happens in game, happens IC. Color me callous, but I don't feel that the little absurdities of game mechanics, etc., create a separate reality that only exists to provide funding to the REAL world.
What'cha done, ya done, and if you find it immersion-breaking that the NPCs don't retreat in the face of impending death, that just points up the need to consider reasons why they can't. If you can't buy CCP's world as packaged, just play out the conditions in your head or discuss and write up quasi-canon until we have some kind of believable scenario.
Lord knows we need more world in this world. CCP won't be building it for us, so it's up to us. (Also, they have a habit of adopting bits of quasi-canon that they like as the real thing.)
Keep your sights on the level of Star Trek instead of Star Wars-- that is, worry less about defeating the Empire and more about defeating the captain of that Klingon battlecruiser over there-- and I think the setting works pretty well. If your personal victories and losses eventually lead to major political realignments, so much the better.
Let your character worry about high-level politics and the eventual glorious victory of all that is good and true if that is appropriate to the character. Your concern is better focused on developing the place of that character in the world.
... If you want to be happy with the game, that is.