Graphics don't make a game, game play does. The graphics have gotten better every expansion, so, remember that. Honestly, Blizzard has done an amazing job getting the most they can out of the engine in Mists of Pandaria. Besides, the great thing about WoW, is that it can literally run on any horrible computer. I tried running some new android emulator on my seriously old laptop (I'm talking 8 years old) and it said my drivers didn't support it. Yet, WoW does work. It's pretty crazy just what can run this game. lol.
Maybe in 5-10 years when the average computer can handle those graphics.
These images aren't that different from the in-game engine, although you may have to evoke hidden settings through the console. You can turn up ground clutter to ridiculous levels now. You can turn bloom all the way up now. The only thing you really can't do that's in these renders is change the skybox and primary light source (incl. dimming it more at night).
OMG 13:37 - Then Jesus said to His disciples, "Cleave unto me, and I shall grant to thee the blessing of eternal salvation."
And His disciples said unto Him, "Can we get Kings instead?"
The graphics of this game could be greatly improved and at the same time the requirements lowered, the engine wow uses is terribly inefficient now due to how much is has been modded and not completely redone like it needs to be. Also they could do what LotrO did and have two separate clients.
The trick with other games, especially FPSs, is that they have high control over where the player goes, hence control over what the player will see. This allows them to be economical with resource usage, they know exactly what needs to be loaded and process just those assets.
WoW screw itself over when they added free-form flying, destroying their ability to control what the player sees.