The biggest point people are missing is this: MMOs are a dying breed.
Think back to WotLK, and how many advertised/hyped “WoW-killers” were coming out… name how many of them even have the same business model (ie: subscription-only)? Right now, I can name one, and that is FFXIV, and it’s a little more odd, cause it has a huge playerbase in Japan (cause Final Fantasy and Japanese developer). Every other MMO on the market either died entirely (ie: Wildstar), or shifted to the Free-to-Play w/ Premium Options model (ie: Star Wars: The Old Republic, Elder Scrolls Online, etc.) within 2 years or less, or in Guild Wars 2’s case, always was that model.
The market is different. Many people just don’t have the free time/extra money to dedicate to an MMORPG anymore. Think back, a DECADE ago, when it was WotLK: What were you doing? I was 24 years old, sharing an apartment with 3 friends, so we all had tons of disposable income, and minimal responsibilities. We all played WotLK to death and back. As the years and expansions went on… it was just the time commitment that didn’t work for us all. We all stopped any serious raiding in Cataclysm (LFR actually helped us get to see raid content while current, in some format, thankfully), cause we all had wildly different work schedules (and had moved across multiple timezones too). Each expansion saw more of the friends I played with during WotLK move on to less time-demanding games. Most game companies are no longer willing to invest in new MMO development, cause the market is not showing growth, across any of the existing entrants. It’s stagnating, if not seeping off.
Now, I can confidently say, in the age of BfA, there is all of 1 WotLK friend still playing. It’s not that my other friends don’t still play games, they just don’t play WoW. And most of them expressed just not having the time, or the desire to dedicate the money to it. That is why so many “QoL” features people think drove people away, and removing the changes, to go back to the old days will magically bring them back… they won’t. Those things were done to help people have to spend LESS time in the game, doing tedious things. If those improvements are not bringing people back, removing them will do even less to help it.
I myself am at a point I come on, do my solo business, and play for the story of the game, for good or ill. Is it the best gaming expense? Not likely, compared to some other games in terms of gameplay vs cost (Terraria makes any other game I own look like a waste, when I spent $10 on it, and have almost 1600 hours in it, with more to come for sure). But it is a game I am still enjoying in a capacity that works for me. It won’t work for everyone, and many of those that moved on, did so because it did not work for them at all anymore.