I would say that online TCGs use the same business model. Magic the Gathering's new online service Arena has:
* Free daily/weekly rewards to keep you coming back but aren't even enough for a casual deck.
* Strictly random packs with ~1 in a couple hundred chance of getting a particular ultra rare and no way to buy a specific card.
* Nothing to keep you from getting more than 4 copies of a card (limit for any given card in your deck). You can convert extra copies back to in game currency but the exchange rate is miserably low.
* Serious power creep and set rotation to keep you from sticking with a deck and making minor tweaks.
* Pay-to-enter events
So you have the same setup where it's free on paper but it's obviously designed to push players into spending real money. The big differences are the cost (maybe $1000 to build a top-of-the-line deck + a few hundred/year to update it) and culture (not sure if there's an equivalent to guilds or factions but nothing as ridiculous as Champions) so there's much less incentive to whale compared with Champions.