There's a level cap before the $$$ comes into play if you want to go further. The only time you'll see EA and "free" in the same sentence is here.
Check out the Guild Wars model by ArenaNet. You only have to buy the game itself. No monthly subscription, no level restrictions, access to all areas, etc. It's been going on 7 years strong. There are microtransactions but they have absolutely no affect on the game itself other than for cosmetic purposes, extra character slots and extra in game storage. Guild Wars 2 which is coming out in less than a month will follow the same model.