For outdoor World PvP, this is probably true.
However PvP was the second most popular activity in this Blizzard Poll a little while back (during Dragonflight), so I think they still want to invest in it, but TWW seems like it will be focused on a new BattleGround and making BGs the focus over Arenas… World PvP didn’t even make it to the “let’s mention that” list during the recent WoWcast, so you might be in a minority thinking World PvP is important (at least in the devs’ eyes).