Maybe this has been discussed before and I missed it, but whatever; I'm curious.
Do you think there should have been or could still be a 3rd faction for WoW?
Reason being, I play on a RPPVP server (emerald dream) as a forsaken. My character is not blind to the innate good that some people have despite their faction. Some people obviously are your enemy but some people obviously aren't; despite their skin.
I don't run around ganking anyone. They're allowed to all prove whether or not they're good in my eyes. That typically works against me as I don't attack unless I see the alliance attacking someone who didn't deserve it. I only defend people and myself; So I lose more than I win.
However, it makes me feel good when I help out people of both factions and we all work together for the greater good despite our differences. As silly as it is, I've been enjoying fighting side-by-side with the alliance to down the GREENCH every day during winter veil and they seem to be amused by me as well.
I would have personally been interested in a 3rd neutral faction... I think races like goblins, pandarens and ethereals (also, gnolls, quillboars, tuskarr, etc.) should or could have been in a neutral faction that could participate with or ignore either side in some way. Obviously there would be problems with that, but I think it could work.
It would also be a very interesting potential faction for rogues / spies / mercenaries to work.
Blizzard has had previous experience with more than two factions (Warcraft 3 & Starcraft). However, I seriously doubt they'd ever have any reason to implement this into wow. But still, I'm curious how other people feel about it.