Not even the best run guild.
Given enough time, people get sick of the place. Your hard working officers get burned out and step down. No one else wants to step up and help. Everyone sits around, waiting for someone to come in and make the guild fun and exciting again. Sitting. Waiting. Not lifting a finger.
Imagine a town where the volunteer fire department got sick of always doing the work and quit. Then while the mayor is trying to get people to help put out a fire, the townspeople just kinda sit back and watch things burn. Some even wander off. "That building wasn't THAT important." People get upset at each other. "Why didn't you do something!?!?" "This town is letting me down!" "The mayor should fix things! I don't have time to help."
At least, if people pay taxes, the mayor can hire firemen and police. No such luck in a guild.