Yes, in that there's not enough players currently to support 3 servers.
No, in that merging servers plays havoc with server-player relationships and faction standings, etc. You know a lot of the regulars on your server, but after a merge, half wouldn't know who you are. It was bad with the original merge, a merge this late would not be fun, at least in the beginning.
I think there should be one server with a new hybrid hostile/carebear PvP system, but poor ol' Rarebit doesn't have a toggle for that in his admin program.