Counter Argument:
- Blizzard recently took their entire monetisation strategy for HotS and collapsed it in favour of making the game more rewarding to play.
- Blizzard shut down the only way Diablo 3 made money post-release because it was ruining the fun of the game for most people.
- Blizzard enabled the ability to buy WoW subscriptions through gold to reward players than invested lots of time into making gold.
- Blizzard created a mode in Hearthstone to allow people to play on an somewhat even playing field without purchasing any of the latest content or packs.
Even your complaint that WoW feels like a massive grindy punishment is actually a result of Blizzard catering for so many different players, that you feel obliged to engage in them all, and that is what actually ruins your enjoyment. Your mentality that your forcing on yourself is what's ruining WoW. Not Blizzard's design and certainly nothing to do with money.
Because here's the kicker --and it takes a small stretch in logic, so I hope I don't lose you-- if you make bad games, people stop paying you money.