I agree with Blackwall here. Over the last 3-4 weeks, the faction imbalance has become more and more drastic. At this point, I don't think having a good leader could really make up for that. Of course, most people would probably welcome one, but ultimately, there's not gonna be much left to lead if this trend continues.
I think the possibilities of incentives are quite diverse. There could be a siege buff, AP/XP buffs, additional leveling rewards ... so on. There's always the possibilty of temporarily closing Elyos' character creation, too.
No matter what the decision is, I do think it's time for the admins to do something quickly.