I’ll actually chime in add to Maerlyn’s point, because it brings across something I’ve really taken to heart lately and another big bonus to guilds: Content Curation. Communities are less commitment, yes, and you can dip in and out without having to invest in the same buy-in as a guild, but the buy-in of a guild also makes sure that you’re RPing(At least in a good guild that’s competently run) with a carefully curated selection of people invested in upholding the themes and tone of the RP that you enjoy.
As far as racial guilds are concerned, at least when the server was more popular back in the day, you had a general idea of what the really serious guilds were, how hard it was to get into them, and the quality of content they created within themselves by making sure no one was harshing the fun. You also knew less tightly regulated guilds and what came out of them as a kind of softer, sillier side to it, for those who enjoy that.
This of course, and I’m repeating myself here but it needs to be repeated, relies on trusting the GM and Officers of the guild to maintain that quality, create events and a structure to RP in. Communities provide that only to a smaller degree.
I can be an old man about this and say that it feels like new RPers are less and less driven to make their own stuff. Back in MY day you’d have a new guild idea every other week! But no it does feel like things have kinda distilled down to walkup RP and social getups and the odd campaigns through Warcraft Conquest over on Moonguard. Even our Horde counterpart, which is the more populated side of this server, doesn’t really seem to be having any new guilds forming at all this year, maybe just one or two.