Some of this seems kinda neat... the webway seems really cool. However in general the entire thing seems really shallow. Not nearly enough new gameplay things. Though I understand if this were to be true, it wouldn't be all of what the expansion would provide.
And if that is Path of the Titans, it sounds terrible.... seems like guild leveling perks but for your own personal account, which imo is just shallow and uninspired. There's all sorts of little improvements this expansion needs to make... like dealing with old raid content, bag space, improved mail and auction house, more guild features, another "farm" type area like what's in Halfhill, customizable mounts... or anything improving class diversity/talents.
Also, fact is... if (and a big if, here) there are actually no new races or classes in the expansion, Blizzard would have to compensate for it in some other way. That's normally how they operate anyway. Their dev time would be shifted from not having to create new classes/races to doing something else. Maybe they factor that into the new race models/animations? Dunno... but a new race/class is normally a big draw for an expansion, so lack of them would mean there would be some other "big" announcement or feature.